Teleste (TLT1V) Q4 2024 earnings summary

Executive summary

• Net sales for 2024 were €132.5M, down 12.4% year-over-year, but Q4 net sales rose to €36.5M, up 19% from the prior year.

• Adjusted EBITDA improved to €9.2M for 2024 (6.9% margin), up 27.2% from €7.2M in 2023.

• Adjusted EBIT rose to €4.0M in 2024 from €1.2M, but reported EBIT was -€5.5M due to €6.2M–€6.7M impairments and one-offs.

• Orders received in Q4 increased year-over-year, especially in North America, but full-year orders declined to €124.9M from €149.6M.

• Cost-saving measures and group restructuring reduced expenses and carved out business units into separate legal entities.

Financial highlights

• Q4 adjusted EBIT was €0.8M, up from -€1.4M in Q4 2023; Q4 adjusted EBITDA was €2.1M (5.8% margin).

• Full-year EBIT margin was -4.2% due to impairments and one-offs; adjusted EPS was €0.20 (2023: €0.09), reported EPS -€0.32.

• Cash flow from operations increased 15.2% to €12.4M.

• Cash and unused credit facilities totaled €22.8M at year-end; cash and equivalents were €8.8M.

• Orders received for the year fell 16.5% to €124.9M; order book at year-end €118.3M (-6.1%).

Outlook and guidance

• 2025 revenue expected between €135M and €150M; adjusted operating profit forecasted at €4M–€7M, with most profit in H2.

• Potential US import tariffs could negatively impact short-term profitability.