Wulff-Yhtiöt (WUF1V) Q4 2024 earnings summary

Executive summary

• Net sales reached a record EUR 102.8 million in 2024, up 9.6% year-over-year, with strong growth in the Worklife Services segment and stable operating profit.

• Operating profit (EBIT) was EUR 3.2 million, with a margin of 3.1%, and EPS was EUR 0.26; the Board proposes a dividend of EUR 0.16 per share.

• Service businesses, especially staff leasing and accounting, drove growth, while Products for Work Environments faced declining sales due to market conditions.

• Several acquisitions in accounting and consulting expanded the service portfolio and contributed to net sales.

Financial highlights

• Q4 net sales rose 21.7% to EUR 27.9 million; full-year net sales up 9.6% to EUR 102.8 million.

• EBITDA for 2024 was EUR 5.4 million (5.3% margin); comparable EBITDA EUR 5.6 million.

• Operating profit (EBIT) for 2024 was EUR 3.2 million (3.1% margin); comparable EBIT EUR 3.3 million.

• EPS for 2024 was EUR 0.26; comparable EPS EUR 0.29.

• Equity ratio at year-end was 41.3%; return on equity (ROE) 8.2%.

Outlook and guidance

• Net sales are expected to increase in 2025, with comparable operating profit to remain at a good level.

• Service businesses, particularly staff leasing and accounting, are forecasted to grow; uncertainties include economic conditions, inflation, interest rates, and geopolitics.