Elanders AB: Year-end Report 2024

Full year 2024

Net sales increased to MSEK 14,143 (13,867), which corresponded to an organic net sales reduction of two percent, excluding acquisitions and discontinued operations, and using unchanged exchange rates.
Adjusted EBITA amounted to MSEK 879 (927), which equaled an adjusted EBITA margin of 6.2 (6.7) percent.
Operating profit was impacted by one-off items of MSEK 14 (-107), which mainly referred to revaluation of an additional consideration for an acquisition, structural measures in China, Germany, the UK and the USA, as well as acquisition costs.
Adjusted net result amounted to MSEK 143 (349), corresponding to SEK 3.85 (9.60) per share.
Operating cash flow adjusted for purchase prices for acquisitions amounted to MSEK 1,978 (2,170). Operating cash flow including acquisitions amounted to MSEK 894 (1,338).
Cash conversion was 90 (110) percent, excluding purchase prices for acquisitions.
In February 2024, Elanders acquired almost 90 percent of the shares in the English company Bishopsgate Newco Ltd. During 2023, the company had net sales of MGBP 27 with good profitability.
In April 2024, Elanders acquired the remaining 20 percent of the shares in the American company Bergen Logistics for a purchase price of MUSD 47.
During the year, Elanders has established its first contract logistics unit in Thailand after securing an important deal with one of the Group’s largest customers. Operations started in the fourth quarter.
The Board proposes a dividend of SEK 4.15 (4.15) per share for 2024.

Fourth quarter 2024

Net sales increased to MSEK 3,774 (3,574), which corresponded to an organic net sales growth that was unchanged compared to the same period last year, excluding acquisitions and discontinued operations, and using unchanged exchange rates.
Adjusted EBITA amounted to MSEK 247 (289), which equaled an adjusted EBITA margin of 6.6 (8.1) percent.
Operating profit was impacted by one-off items of MSEK -52 (-25), which mainly referred to structural measures in Germany and the UK as well as a revaluation of an additional consideration for an acquisition.
Adjusted net result amounted to MSEK 26 (127), corresponding to SEK 0.66 (3.41) per share.
Operating cash flow adjusted for purchase prices for acquisitions amounted to MSEK 542 (593). Operating cash flow including acquisitions amounted to MSEK 535 (-221).
Cash conversion was 102 (104) percent, excluding purchase prices for acquisitions.
During the fourth quarter, the first deliveries were made from Elanders' new contract logistics unit in Thailand.
After the balance sheet date, Elanders has consolidated the leadership of Supply Chain Solutions in the UK under Tim Bloch, who also replaces Ged Carabini in the Group Management.

Further information can be found on Elanders’ website www.elanders.com or requested via e-mail info@elanders.com.

Questions concerning this report can be addressed to:

Magnus Nilsson
President and CEO
Phone: +46 31 750 07 50

Åsa Vilsson
CFO
Phone: +46 31 750 07 50

Elanders AB (publ)
(Company ID 556008-1621)
Flöjelbergsgatan 1 C
431 37 Mölndal, Sweden
Phone: +46 31 750 00 00

This information is information that Elanders AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 11:00 CET on 28 January 2025.

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