I.A.R. Systems Group AB (publ) Interim Year-End Report 2024

Fourth quarter October–December 2024

• Net sales were SEK 132.0m (125.9), with growth of 4.8%, or 5.1% in local currency.
• EBITDA of SEK 46.9m (44.5), corresponding to an EBITDA margin of 35.5% (35.3).
• Adjusted EBITDA of SEK 49.4m (46.4), corresponding to an adjusted EBITDA margin of 37.5% (36.9)
• Operating profit of SEK 33.4m (-255.8), corresponding to an operating margin of 25.3% (-203.2).
• Adjusted operating profit of SEK 36.0m (32.1), corresponding to an adjusted operating margin of 27.3% (25.5).
• Capitalized work on own account amounted to SEK 13.3m (9.1).
• In a year-on-year comparison, currency translation had a negative impact of SEK 0.4m on net sales and a negative impact of SEK 0.1m on operating profit for the period.
• Cash flow from operating activities amounted to SEK 39.3m (36.9).

January–December 2024

• Net sales were SEK 487.2m (458.1), with growth of 6.3%, or 8.7% in local currency.
• EBITDA of SEK 174.3m (143.6), corresponding to an EBITDA margin of 35.8% (31.3).
• Adjusted EBITDA of SEK 186.7m (153.1), corresponding to an adjusted EBITDA margin of 38.3% (33.4).
• Operating profit of SEK 119.1m (-204.1), corresponding to an operating margin of 24.4% (-44.6).
• Adjusted operating profit of SEK 131.5m (96.1), corresponding to an adjusted operating margin of 27.0% (21.0).
• Capitalized work on own account amounted to SEK 49.2m (36.1).
• In a year-on-year comparison, currency translation had a negative impact of SEK 10.6m on net sales and a negative impact of SEK 6.6m on operating profit for the period.
• Cash flow from operating activities amounted to SEK 135.4m (144.1).

Fourth quarter in brief

• IAR adopts a new growth strategy with higher growth targets