Norway · Delayed Price · Currency is NOK Elmera Group ASA Earnings Call Transcripts
Fiscal Year 2025
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Adjusted EBIT and customer growth improved despite lower volumes and mild weather, with Norgespris adoption reaching 50% of households. Dividend set at NOK 2 per share, and 2026 guidance targets EBIT of NOK 550 million amid ongoing market volatility and investment in growth.
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Strong operational performance with increased core margins and robust customer growth, despite lower net revenue and EBIT year-over-year due to mild weather and higher sales incentives. Norgespris launch drove customer mobility, and Nordic expansion remains a focus.
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Customer growth accelerated across all segments, with strong profitability in consumer and business, but Nordic segment results were impacted by credit and hedging losses in Sweden. Net revenue and EBIT adjusted declined year over year, and 2025 targets are expected to be below plan, while 2026 targets remain unchanged.
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Mild weather led to a 9% drop in electricity volume sold and lower net revenue, but customer growth was strong and margins improved. 2025 EBIT is expected below target unless weather turns colder, while OpEx guidance is reiterated and M&A activity is rising.
Fiscal Year 2024
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Strong Q4 and full-year 2024 results with net revenue and EBIT adjusted growth, robust cash generation, and a proposed NOK 3 per share dividend. Mild weather impacted volumes, but margin improvements and strategic initiatives offset the effect.
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Net revenue and EBIT adjusted grew year-on-year, driven by higher margins and cost reductions. Customer growth was strong in the Nordic segment, and refinancing secured new credit facilities. Financial targets and dividend policy are upheld, with positive outlook for margins and growth.
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Net revenue and EBIT adjusted improved year-over-year, despite a NOK 30 million loss from a major bankruptcy in the Nordic segment. Strong cash flow, reduced working capital, and stable credit metrics support a positive outlook, with growth and stable OpEx targeted for 2024–2025.
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The group is accelerating Nordic expansion, unifying IT platforms, and launching new value-added services to drive growth and efficiency. Financial targets include stable costs, net revenue growth, and high dividend payouts, while a new power trading model aims to optimize costs and leverage market volatility.