Sto SE & Co (STO3) Q4 2024 earnings summary

Executive summary

• 2024 saw a 6.2% decline in consolidated turnover to EUR 1,612.3 million, with losses both in Germany and abroad.

• EBIT dropped 53.5% to EUR 58.8 million, and EBT fell 52.2% to EUR 60.9 million, reflecting challenging market conditions.

• Workforce was reduced by 184 to 5,599 employees worldwide, and a comprehensive cost-cutting program was implemented.

• Cash flow from operating activities decreased to EUR 90.5 million from EUR 170.9 million in the previous year.

• Revised turnover and earnings forecasts for 2024 were achieved despite the downturn.

Financial highlights

• Turnover: EUR 1,612.3 million in 2024, down 6.2% year-over-year.

• EBIT: EUR 58.8 million, down 53.5% year-over-year; EBT: EUR 60.9 million, down 52.2%.

• Earnings per limited ordinary share: EUR 5.83, down 56.4%; per limited preference share: EUR 5.89, down 56.1%.

• Investments (excluding financial assets and IFRS 16): EUR 36.2 million, down 22.3%.

• ROCE fell to 7.8% from 17.1% in 2023.

Outlook and guidance

• 2025 turnover forecast at approximately EUR 1.57 billion.

• EBIT expected between EUR 51 million and EUR 71 million; EBT between EUR 50 million and EUR 70 million.

• Return on sales (EBT) projected at 3.1–4.5%; ROCE at 6.8–9.6%.

• Forecast assumes stable economic conditions, average weather, and no major geopolitical disruptions.