Utenos Trikotazas (UTR1L) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was EUR 17.8 million, down 20% year-over-year; export share was 85.4%.

• Group incurred a net loss of EUR 1.75 million, an improvement from EUR 2.55 million loss in 2023.

• EBITDA was negative at EUR -306 thousand, but improved from EUR -1.55 million in 2023.

• On December 9, 2024, rights to the trademark ABOUT were sold.

• Panevėžys Regional Court approved a four-year restructuring plan to support profitability and continuity.

Financial highlights

• Sales of on-demand knitwear fell 24.8% to EUR 12.9 million; private brands dropped 7.2% to EUR 2.3 million.

• Functional-technical garments sales decreased 0.2%.

• Q4 2024 saw a group net profit of EUR 1.46 million, reversing a EUR 1.23 million loss in Q4 2023.

• Cash and cash equivalents increased to EUR 2.35 million from EUR 1.11 million year-over-year.

• Share price declined 37.9% over 2024, closing at EUR 0.298.

Outlook and guidance

• The restructuring plan aims to shift toward profitability and ensure sustainable continuity, with approved measures and funding sources.

• Early repayment of liabilities to OP Corporate bank in February 2025 reduced future obligations.