SolidX (SOLIDX) Q4 23/24 earnings summary

Executive summary

• Achieved 18% year-over-year increase in net sales to 119,060 KSEK for the full year and 39% increase in Q4 to 38,022 KSEK compared to the same quarter last year.

• Strong demand persisted despite a challenging market, with significant organic growth and strategic acquisitions.

• Profitability weakened due to self-financed reinvestments and absence of external capital, impacting margins.

• Long-term goal set to surpass 1 billion SEK in net sales, with a medium-term annual growth target of 50-100%.

Financial highlights

• Full-year net sales: 119,060 KSEK (up 18% YoY); Q4 net sales: 38,022 KSEK (up 39% YoY).

• EBITDA for the year: 3,646 KSEK (down from 7,014 KSEK YoY); Q4 EBITDA: 1,098 KSEK (down 40% YoY).

• Net profit for the year: 507 KSEK (down from 4,851 KSEK YoY); Q4 net loss: -245 KSEK.

• Cash flow from operations: 1,095 KSEK for the year (down from 4,758 KSEK YoY); Q4: -2,084 KSEK.

• Cash and equivalents at year-end: 6,976 KSEK (down 6% YoY).

Outlook and guidance

• Targeting annual net sales growth of 50-100% in the medium term and surpassing 1 billion SEK in the long term.

• Strategy includes organic growth and strategic acquisitions both in Sweden and internationally.