Umida (UMIDA) Q4 2024 earnings summary

Executive summary

• Achieved record year with 17% revenue growth (excl. excise), reaching 85.2 MSEK; net income turned positive at 0.8 MSEK from -23 MSEK year-over-year.

• Joluca funktionsdrycker drove growth, generating 27.5 MSEK and now accounts for over 30% of sales.

• EBITDA improved to 5.2 MSEK (from -16 MSEK), with margin at 6.1% (8.8% adjusted); operating income at 0.9 MSEK (from -20.6 MSEK).

• Debt reduced by 34% (21.3 MSEK); financial stability strengthened through two share issues and divestment of The Great Swedish Järn AB.

Financial highlights

• Q4 net sales (excl. excise) up 56% year-over-year to 30.9 MSEK; full year up 17% to 85.2 MSEK.

• Gross margin doubled to 34.7% (from 18.7%); Q4 gross profit up 338% to 10.7 MSEK.

• Q4 EBITDA at 3.5 MSEK (from -12.5 MSEK); Q4 EBITDA margin 11.3% (19% adjusted for one-offs).

• Cash flow from operations for the year at -3.5 MSEK, impacted by net debt reduction.

• Equity at year-end 14.4 MSEK; cash position 6.5 MSEK (up from 1.5 MSEK).

Outlook and guidance

• Entering 2025 with strong momentum, continued focus on margin improvement and product launches.

• Joluca expected to expand with new energy drinks and increased listings at major retailers.

• No dividend proposed for 2024.