Suominen (SUY1V) Q4 2024 earnings summary

Executive summary

• Q4 net sales grew 3% year-over-year to EUR 118.5 million, with full-year net sales up 2.5% to EUR 462.3 million, driven by higher volumes but offset by lower prices.

• Comparable EBITDA was EUR 4.2 million in Q4 (down from 5.3), and EUR 17.0 million for the full year (up from 15.8), reflecting higher sales margins.

• Cash flow from operations was EUR 6.5 million in Q4 and EUR 3.9 million for the year, impacted by interest payments and increased inventory.

• Profit for the period was EUR -5.3 million, an improvement from EUR -12.8 million in 2023.

• No dividend proposed for 2024 to support cash balance and ongoing investments.

Financial highlights

• Gross profit for 2024 was EUR 29.7 million, up from EUR 22.7 million in 2023.

• Operating profit for 2024 was EUR -1.3 million, compared to EUR -7.5 million in 2023.

• Earnings per share for 2024 was EUR -0.09, compared to EUR -0.22 in 2023.

• Gross capital expenditure was EUR 16.0 million (2023: EUR 11.2 million).

• New products accounted for 34% of 2024 sales.

Outlook and guidance

• Comparable EBITDA in 2025 is expected to improve from the 2024 level of EUR 17.0 million.

• Market uncertainty expected to persist, especially in Europe due to intensified competition from low-cost countries and ongoing tariff discussions.