Q4 2024 Exsitec Holding AB Earnings Call Transcript
Key Points
- Exsitec Holding AB (OSTO:EXS) reported record strong sales numbers in Q4 2024, with order intake more than 50% higher than Q4 2023.
- The company achieved its highest quarterly revenue to date, reaching SEK227 million, driven by M&A activities.
- Recurring revenue from software grew by 32% for the year, making up 23% of total revenue, highlighting a strong software offering.
- Exsitec's geographical expansion has been successful, with around 20 offices now covering Sweden, Norway, Denmark, and Finland.
- The company has a diversified customer base of around 5,000 organizations, reducing risk as no single customer accounts for more than 1% of revenue.
- Organic growth was negative, with a 5% decline in Q4 2024, indicating challenges in the market environment.
- Adjusted EBITA for Q4 2024 was SEK30 million, significantly lower than the SEK45 million reported in Q4 2023.
- Professional services revenue was weak due to lower resource utilization and a cautious market pushing out investments.
- The company experienced inefficiencies and onboarding costs related to recent acquisitions, impacting short-term performance.
- Employee turnover decreased, leading to a reassessment of the trainee program size, which could affect future capacity planning.
Welcome to this year-end report for 2024 for Exsitec, presenting with the CEO, Johan Kallblad, and without further ado, I will leave the word to Johan.
Thank you, Hampus. So we are going to go through financial results of 2024 for Exsitec. I expect this presentation to last around 15 minutes. It's possible to ask questions via the hand-raise function or the chat function in Zoom.
So, I'm on my 15th year as CEO of Exsitec and one big piece of news on a personal level for me is that I will be transitioning into a role on the board of Exsitec and handing over the CEO duties to Niklas Ek in the start of March '25, so it's only a month out. Niklas has been a colleague of mine for about 10 years, reporting directly to me in the role as a business unit director of our largest business unit, ERP Sweden, for the last 4 years.
Also new in his role is called Arnesson, who's joined us as a CFO in this earlier this year with a
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