Tellusgruppen (TELLUS) Q4 2024 earnings summary

Executive summary

• Revenue grew 12.7% to 481.6 MSEK for 2024, with 9.9% organic growth and 2.8% from acquisitions.

• Adjusted EBITDA improved to 16.4 MSEK (3.4% margin), up from 10.9 MSEK (2.5%) year-over-year.

• Net result was -19.8 MSEK, compared to -16.9 MSEK last year; adjusted result with reversed goodwill amortization was 4.4 MSEK (1.0 MSEK).

• Net debt/Adjusted EBITDA reduced to 2.4 from 4.8, and equity ratio improved during the year.

• Significant efficiency improvements and cost control measures contributed to margin gains despite a challenging market.

Financial highlights

• Q4 revenue increased 8.2% to 122.9 MSEK, with 6.1% organic growth.

• Q4 adjusted EBITDA was 2.9 MSEK (2.4% margin), up from -2.4 MSEK (-2.1%) year-over-year.

• Full-year adjusted EBITDA ex. vacation pay liability was 18.1 MSEK (12.0 MSEK prior year).

• Cash flow for the year was -0.1 MSEK; liquidity at year-end was 1.1 MSEK.

• Net investments totaled 7.5 MSEK, mainly for acquisitions and new establishments.

Outlook and guidance

• Focus remains on profitability, efficiency, and growth, with a strategy to strengthen the position in education and childcare.

• Capital market conditions for small/mid-sized companies remain challenging but show signs of improvement.

• No formal forecasts provided.