SP Group (SPG) Q4 2024 earnings summary

Executive summary

• Achieved record revenue in 2024, with strong growth in proprietary products and improved margins.

• Proprietary products, especially in healthcare and cleantech, were key growth drivers.

• Strategic focus on expanding through acquisitions and increasing sustainability initiatives.

Financial highlights

• Revenue increased by 12.1% year-over-year to DKK 2,922 million in 2024.

• EBITDA rose 33.5% to DKK 589 million, with an EBITDA margin of 20.1%.

• EBT surged 71.5% to DKK 345 million, with an EBT margin of 11.8%.

• EPS increased to DKK 21.6 from DKK 13.0 in 2023.

• Operating cash flow reached DKK 510 million, up from DKK 360 million in 2023.

Outlook and guidance

• 2025 revenue growth expected in the range of 3-10%.

• EBITDA margin guidance for 2025 is 19-21%; EBT margin expected at 11-13%.

• Long-term ambition for 2030: revenue of DKK 4.5 billion, EBT of DKK 600 million, and annual revenue growth of 6-9%.