Prevas publishes Year-end Report for 2024

We are now summing up 2024, a year in which our long-term business model and operating capacity have been tested, bearing in mind a cautious market. Our decentralized, agile strategy is well established at Prevas and has proven to be strong, even in this more challenging year. We have delivered a strong year for our industry, with Prevas’ sales growing to SEK 1,586.6 million (approximately 7%), with an EBITA of SEK 148.9 million (9.4%) and a strong cash flow of SEK 136.8 million.

During the year, we have also delivered on our long-term plan of becoming a Nordic design and development house thanks to a major platform acquisition in Finland, where we have acquired a company that has proven good delivery capacity over many years. Acquiring the right companies that contribute with cutting-edge expertise or that complement our business is important. Most important of all, however, is the ability to successfully integrate these acquisitions into Prevas and, alongside our new colleagues, to draw up a joint plan to grow together. I note with confidence that the integration of our major acquisition in Finland (Enmac Oy) has proceeded according to plan during the quarter. Our focus has been to build the new Nordic Prevas and draw up a joint plan for future growth and profit. Our committed work has yielded excellent results, and our Nordic team is already working intensively together on exciting new deals.

Magnus Welén, CEO

To read the word from the CEO in full, see interim report page 3-4. Pdf, 3.9 MB.

Quarter October–December 2024

• Net turnover amounted to SEK 432.0 million (399.3), an increase of SEK 32.7 million and 8.2 percent.
• The operating profit EBITA amounted to SEK 32.6 million (45.0), giving an EBITA margin of 7.5 percent (11.3). The quarter was one working day shorter than the corresponding period of the previous year, which affected the operating profit EBITA negatively by approximately SEK 5 million. The EBITA margin amounted to 10% for the quarter, considering the calendar effect and the elimination of segment Finland’s impact on revenue and earnings.
• The operating profit EBIT adjusted for acquisition-related items was SEK 32.5 million (44.9), resulting in an adjusted EBIT margin of 7.5 percent (11.3). EBIT amounted to SEK 28.7 million (42.4), giving an EBIT margin of 6.6 percent (10.6). EBIT was negatively affected by acquisition-related items by SEK 3.8 million (2.6).
• Profit after tax amounted to SEK 23.9 million (31.4).
• Profit per share before dilution was SEK 1.81 (2.42) and after dilution was SEK 1.81 (2.42).
• The cash flow from operating activities amounted to SEK 53.3 million (41.2).

Period January–December 2024

• Net turnover amounted to SEK 1,586.6 million (1,482.6), an increase of SEK 104.0 million and 7.0 percent.
• The operating profit EBITA amounted to SEK 148.9 million (172.3), giving an EBITA margin of 9.4 percent (11.6). There were the same number of working days in this period as in the corresponding period of the previous year. The EBITA margin amounted to 10% after eliminating the impact of segment Finland on revenue and earnings.
• The operating profit EBIT adjusted for acquisition-related costs was SEK 148.2 million (171.8), resulting in an adjusted EBIT margin of 9.3 percent (11.6). EBIT amounted to SEK 122.6 million (162.4), giving an EBIT margin of 7.7 percent (11.0). EBIT was negatively affected by acquisition-related items by SEK 25.5 million (9.4).
• Profit after tax amounted to SEK 92.3 million (120.9).
• Profit per share before dilution was SEK 7.13 (9.28) and after dilution was SEK 7.13 (9.23).
• The cash flow from operating activities amounted to SEK 136.8 million (164.5).
• The Board proposes a dividend of SEK 4.75 per share (4.75).

Significant events during the financial year

• In April 2024, it was announced that Prevas had entered into an agreement to acquire approximately 92 percent of the Finnish company NMAC Group Oy, the parent company of the Enmac Group (“Enmac”). Regulatory approval was granted at the end of June, with an effective date of July 1, 2024.
  
• On October 1, 2024, Prevas acquired 75 percent of the shares in Design-People, a Danish company at the forefront of industrial and digital product design. The acquisition have had a marginal impact on Prevas’ profit per share during the current fiscal year, and for this reason no acquisition analysis is presented in this report.

Prevas' Year-End Report of 2024 will be available at https://www.prevas.com/Financial-Reporting and is attached to this press release.

Presentation of Prevas’ interim report for the fourth quarter of 2024

Tuesday, February 11 at 09.30 press and analyst presentation will be held which can be followed via webcast (https://www.finwire.tv/webcast/prevas/q4-2024/) and through tele conference +46 8 5050 0829 (Meeting ID: 868 1358 4491).

The presentation is given in English by Magnus Welén (CEO) and Helena Burström (CFO) from Prevas AB.
No pre-registration is required.

This interim report has been prepared in Swedish and translated into English. In the event of any discrepancies between the Swedish original and the translation, the Swedish shall have precedence.