Exceptional Financial Performance and Future Outlook for AOJ
Company Announcement of Annual Performance Results
Company Announcement No. 1 - 2025 to Nasdaq Copenhagen
Annual Report 2024
In an impressive display of financial acumen, AO achieved a turnover of DKK 5,429 million, with an EBITDA of DKK 366 million and an EBT of DKK 210 million for 2024. The results align well with the expectations set earlier in the year. During the upcoming Annual General Meeting, the Board plans to suggest a dividend payment of DKK 3.00 per share.
After experiencing a slow start at the beginning of the year, the market saw notable improvements in the latter half, which led to organic growth. The strategic acquisitions of three companies throughout 2024 have played a significant role in boosting the topline by 3% for the entire year, with an even more impressive growth rate of 11% during the second half.
Forecast for 2025 and Beyond
Looking ahead to 2025, AO expects to see both organic and acquisitive growth. The company is increasingly shifting its focus towards the B2C segment, which is anticipated to result in modest improvements in profit margins.
Financial Highlights
The annual report breaks down financial highlights, showcasing net revenue discrepancies between periods:
- Net Revenue for Q4 2024: DKK 1,550.4 million, up from DKK 1,361.4 million in Q4 2023.
- Overall net revenue for 2024 was DKK 5,429.3 million compared to DKK 5,261.0 million in 2023.
- EBITDA noted an end-year computation of DKK 366 million, which deviated somewhat from DKK 405 million previous year.
- EBT was recorded at DKK 210.1 million, down from DKK 261.8 million.
Revenue Insights and Margins
Delving deeper into the year's performance, organic revenue development showcased a slight decline of -1.0% for the year, though demonstrating a remarkable improvement during the latter half with 3.0% growth. The overall results were in line with previously outlined expectations set forth in the Q3 report.
Examining EBITDA Performance
For the fiscal year 2024, the EBITDA margin concluded at 6.7%, a noticeable dip from 7.7% in 2023. This slight downturn in margin can be attributed to cost inflation and a reduction in average basket sizes, even though B2C margins saw some recovery owing to new scale from acquisitions.
Proposed Dividend and Future Guidance
A proposal will be made during the upcoming Annual General Meeting on March 21, 2025, advocating for a dividend of DKK 3.00 per share, translating to approximately 51% of the net profits after taxes and reflecting 300% of the company's capital share.
Guidance for the year 2025 presents optimistic revenue prospects ranging between DKK 5,800 million to DKK 6,100 million. Anticipated EBITDA is projected to be between DKK 410 million and DKK 450 million, whereas profit before tax (EBT) is expected within the range of DKK 235 million to DKK 275 million.
Upcoming Webcast Presentation
The Annual Report for 2024 will be shared in a live webcast on February 27, 2025, at 13:00 CET. Interested parties can tune in through AO's Investor Relations page for this insightful presentation.
For additional queries, please connect with:
CEO Niels A. Johansen
CFO/Deputy CEO Per Toelstang
Brødrene A & O Johansen A/S
Rørvang 3
DK-2620 Albertslund
Denmark
Tlf.: +45 70 28 00 00
Frequently Asked Questions
What were AO’s revenue figures for 2024?
AO reported a turnover of DKK 5,429 million for 2024.
How did EBITDA change from the previous year?
EBITDA for 2024 was DKK 366 million, down from DKK 405 million in 2023.
What is the proposed dividend for shareholders?
The proposed dividend is DKK 3.00 per share, equating to approximately 51% of net profit.
What kind of growth does AO anticipate in 2025?
AO expects both organic revenue growth and growth from acquisitions in 2025.
When will the Annual Report be presented?
The Annual Report will be presented in a webcast on February 27, 2025, at 13:00 CET.
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