Zenergy (ZENZIP) Q4 2024 earnings summary

Executive summary

• 2024 marked a year of transformation, with strategic acquisitions, cost reductions, and a broadened business model focused on energy-efficient construction.

• Despite a challenging construction market, demand for sustainable solutions increased, and Zenergy expanded its offering to integrated energy and building systems.

• New partnerships and joint ventures were established to drive growth in energy-efficient housing and renewable energy solutions.

Financial highlights

• Q4 2024 revenue was 16,804 KSEK, up from 3,502 KSEK in Q4 2023; full-year revenue was 21,685 KSEK, down from 72,950 KSEK in 2023.

• Q4 2024 net income was 1,319 KSEK, compared to a loss of -4,569 KSEK in Q4 2023; full-year net loss was -13,483 KSEK, versus -4,263 KSEK in 2023.

• Q4 EPS was 0.20 SEK, up from -0.02 SEK in Q4 2023; full-year EPS was -2.01 SEK.

• Cash and cash equivalents at year-end were 6,714 KSEK, down from 8,367 KSEK a year earlier.

• Negative goodwill of 4,020 KSEK from the Kaper Norden AB acquisition was recognized as a one-time income.

Outlook and guidance

• Focus for 2025 will be on commercialization and value creation from recent initiatives, with strict cost control and market focus due to continued uncertainty.

• No dividend proposed for 2024; board sees conditions for continued operations over the next twelve months.