TKM Grupp (TKM1T) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was €944.6m, down 0.3% year-over-year; Q4 revenue rose 1.6% to €256.6m.

• Net profit for 2024 declined 26.6% to €27.5m; Q4 net profit fell 17.8% to €10.5m.

• Operating profit for 2024 was €47.6m, down 9.0% year-over-year; EBITDA decreased 2.4% to €90.7m.

• Earnings per share for 2024 were €0.67, compared to €0.92 in 2023.

• Share price ended 2024 at €9.47, a 4.3% decrease from year-end 2023.

Financial highlights

• Gross margin for 2024 was 27.5%, nearly flat year-over-year.

• Return on equity (ROE) for 2024 was 10.5%, down from 16.5% in 2023.

• Total assets increased 2.4% to €705.4m at year-end 2024.

• Dividends paid in 2024 totaled €0.72 per share.

• Cash flow from operations was €73.1m, down from €82.0m in 2023.

Outlook and guidance

• Economic growth in Estonia is expected to recover gradually, with GDP growth forecast at 1.6% in 2025 and 3% in 2026–2027.

• Retail sector faces continued pressure from cautious consumer behavior and new tax increases.

• Declining interest rates and rising external demand are expected to improve growth prospects.