SIBEK (SIBEK) Q1 24/25 earnings summary

Executive summary

• Revenue increased by 23.9% year-over-year to 36,988 TSEK for May–July 2024, driven by high project activity and increased consultant headcount.

• EBIT rose to 7,687 TSEK from 1,207 TSEK, with EBIT margin improving to 20.8% from 4.0% year-over-year.

• EPS reached 0.62 SEK, up from 0.12 SEK in the same quarter last year.

• Driftsättning (commissioning) accounted for 59% of revenue, reflecting a shift in service mix.

• No significant events occurred during or after the quarter.

Financial highlights

• EBITDA increased to 7,708 TSEK (4.2% to 20.8% margin) compared to 1,240 TSEK last year.

• Result before tax was 7,906 TSEK, up from 1,505 TSEK year-over-year.

• Cash flow from operations was 8,128 TSEK, up from 581 TSEK year-over-year.

• Cash and bank balances rose to 38,365 TSEK from 19,068 TSEK year-over-year.

• Equity ratio improved to 76% from 68% year-over-year.

Outlook and guidance

• Activity expected to remain high in Q2, with continued strong order book in commissioning and planning.

• New framework agreement for digital train location services ramping up, anticipated to become a major assignment for the year.

• ERTMS rollout on Malmbanan continues, with further milestones expected in the coming quarters.