Wästbygg Gruppen AB (publ) presents its year-end report for 2024.

“Due to high overall costs and global uncertainty, our clients are continuing to show a cautious approach. During the year, we have lowered our debt ratio, divested several properties and completed most of the unprofitable projects that negatively impacted our profits. We have focused strongly on controlling, managing risk and adapting our operations and organisation to expected future order volumes. To further strengthen our future business, we launched two strategic initiatives early in 2025. We have decided to concentrate our self-developed project operations in the Commercial and Logistics and Industry business areas and issued a letter of intent for the divestment of our project development operations in the Residential business area. We have also decided to issue shares worth SEK 150 million to strengthen the company’s liquidity. Through these measures and strategic initiatives, we will strengthen our prospects for creating long-term value for the Wästbygg Group and its shareholders”, says Jonas Jönehall, CEO Wästbygg Group.

KEY RATIOS ACCORDING TO SEGMENT REPORTING
1 January – 31 December 2024

• Revenue SEK 4,348 million (4,843)
• Operating profit SEK -333 million (-505)
• Profit after tax SEK -316 million (-496)
• Earnings per share SEK -9.77 (-15.34)
• Cash flow from operating activities SEK 107 million (-204)
• Interest-bearing net cash (+) /net debt (-) SEK -438 million (-48)
• Equity ratio 31% (36)
• Order intake SEK 2,085 million (5,514)
• Order backlog 31 December SEK 3,790 million (6,195)
• The Board of Directors propose that the Annual General Meeting 2025 votes for no dividend to be paid (0.0)

1 October – 31 December 2024

• Revenue SEK 1,046 million (1,050)
• Operating profit SEK -207 million (-268)
• Profit after tax SEK -202 million (-277)
• Earnings per share SEK -6.24 (-8.56)
• Cash flow from operating activities SEK -276 million (449)
• Interest-bearing net cash (+) /net debt (-) SEK -438 million (-48)
• Equity ratio 31% (36)
• Order intake SEK 453 million (2,987)

KEY RATIOS ACCORDING TO IFRS:
1 January – 31 December 2024

• Revenue SEK 4,989million (4,991)
• Operating profit SEK -216 million (-361)
• Profit after tax SEK -213 million (-369)
• Earnings per share SEK -6.56 (-11.40)
• Cash flow from operating activities SEK 88 million (-717)
• Interest-bearing net cash (+) /net debt (-) SEK -526 million (-1,126)
• Equity ratio 30% (29)

1 October – 31 December 2024

• Revenue SEK 1,589 million (1,261)
• Operating profit SEK -122 million (-196)
• Profit after tax SEK -113 million (-210)
• Earnings per share SEK -3,50 (-6.49)
• Cash flow from operating activities SEK -354 million (363)
• Interest-bearing net cash (+) /net debt (-) SEK -526 million (-1,126)
• Equity ratio 30% (29)

Comparative figures in parentheses refer to profit items corresponding to the period 2023 and for balance sheet items corresponding to the balance sheet date 2023.

SIGNIFICANT EVENTS IN THE FOURTH QUARTER

• Senior unsecured green bonds of SEK 500 million, which were issued in 2021, were redeemed early on 14 October, with 7 October as the record date, and were bought back by the company under the repurchase offer published on 4 September 2024. SEK 100 million of the bond loan has previously been amortised.

• Wästbygg terminated a liquidity guarantee agreement with Carnegie InvestmentBank. The last day of the liquidity guarantee was 31 October 2024.

• Torbjörn Nilsarve was recruited as CEO of the group company Logistic Contractor. He assumed his new position on 2 January, when he also joined the group management team.
  
• The Wästbygg Group’s Head of HR, Malin Bjurström, handed in her resignation and will leave her position in spring 2025. She stepped down from the group management team in December 2024.
  

Today at 9:30 Jonas Jönehall, CEO, and Lars Just, CFO will present and comment on the report. The presentation will be held in Swedish.

Link to webcast: https://wbgr.se/en/q4-2024/

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For more information, please contact:

Jonas Jönehall, CEO
Phone: +46 73 920 19 01, Email: jonas.jonehall@wbgr.se

Lars Just, CFO
Telefon +46 72 855 65 04, Email: lars.just@wbgr.se

Robin Sundin, COO
Phone: +46 72 529 30 04, Email: robin.sundin@wbgr.se

wbgr.se
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About Wästbygg Group:

The Wästbygg Group is a listed construction and project development company that builds and develops residential, commercial buildings and community service properties, as well as logistics and industrial. The group comprises Wästbygg AB, Rekab Entreprenad AB and Logistic Contractor AB. 
  
The group operates in the most expanding markets in Sweden and within Logistic Contractor also in the neighboring Nordic countries. In 2024, the group had sales of SEK 4.3 billion and 500 employees.