Nimbus Group AB (publ) decreased its sales by 24 percent to MSEK 273 (361) during the fourth quarter of 2024 due to a continued wait-and-see market. At the same time, the order intake increased by 53 percent compared to the previous year, indicating that the market may have bottomed out. During the quarter, Nimbus Group has continued to adjust its costs and to implement measures supporting the company’s focus on the premium segment, including the discontinuation of the company’s Finnish small boat business.
“After recent years growth in the premium segment, we enter 2025 with cost levels that are a bit too high in relation to the market. Thanks to continued cost adjustments and an increasing number of signs of an improved market, we have some confidence for the coming year”, says Jan-Erik Lindström, CEO of Nimbus Group.
| FOURTH QUARTER October – December 2024 | FULL YEAR January – December 2024 |
| Net sales for the fourth quarter decreased 24 percent to MSEK 273 (361) | Net sales totaled MSEK 1,1619, down 15 percent year-on-year (1,898) |
| Organic growth totaled -25 percent EBITA amounted to MSEK -25 (-4) |
Organic growth totaled -14 percent EBITA amounted to MSEK -60 (100). EBITA includes restructuring costs of MSEK -55. |
| The EBITA margin amounted to -9.2 percent (-1.2) | The EBITA margin was -3.7 percent (5.2) |
| Operating cash flow amounted to MSEK -26 (-69) | Operating cash flow amounted to MSEK -107 (-153) |
| The order book totaled MSEK 574 (759) | Earnings per share amounted to SEK -2.88 (2.15) |
| Fourth quarter | Full year | |||||
| 2024 | 2023 | % | 2024 | 2023 | % | |
| Net sales, MSEK | 273.3 | 360.5 | -24 | 1,618.7 | 1,898.4 | -15 |
| Operating result, MSEK | -25.6 | -4.6 | 459 | -60.7 | 99.1 | -161 |
| EBITA, MSEK | -25.2 | -4.4 | 465 | -60.1 | 99.7 | -160 |
| EBITA margin, % | -9.2% | -1.2% | -7.9,pe | -3.7% | 5.2% | -9.0,pe |
| Result for the period, MSEK | -10.8 | -22.1 | -51 | -61.4 | 45.0 | -236 |
| Operating cash flow, MSEK | -26.3 | -68.8 | -62 | -107.3 | -153.2 | -30 |
| Earnings per share | -0.51 | -1.04 | -51 | -2.88 | 2.15 | -234 |
Link to the report: https://nimbusgroup.se/en/reports-and-presentations/
Analyst conference call: A webcast telephone conference will be held today at 10:00 a.m. during which President and CEO Jan-Erik Lindström will present the report together with CFO Rasmus Alvemyr. The presentation will be followed by a Q&A session. The presentation will be held in English. If you wish to participate via teleconference, please register using the link below. After registration you will be provided with phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
Call Access
You can also follow and listen to the presentation and the conference call using the below web link:
Nimbus Q4 Report 2024
