12.2.2025 07:50:01 CET | Lime Technologies AB (publ) | Financial Statement Release
The fourth quarter 2024
- Net sales amounted to MSEK 183.9 (154.7), representing a net sales growth of 19% (14).
- Recurring revenues amounted to MSEK 117.0 (91.4).
- The annualised value of recurring revenues at the end of the fourth quarter of 2024 amounted to MSEK 483.1 (372), representing an ARR growth of 30% (16).
- EBITA amounted to MSEK 47.1 (39.2), representing an EBITA margin of 26% (25).
- Adjusted EBITA margin was 26% (26).
- Operating result, EBIT, amounted to MSEK 37.9 (31.0).
- Cash flow from operating activities amounted to MSEK 60.1 (62.4).
- Net income amounted to MSEK 24.1 (24.0).
- Basic earnings per share amounted to SEK 1.82 (1.80), up 1% and diluted to SEK 1.80 (1.79), up 1%
2024 in brief
- Net sales amounted to MSEK 685.7 (577.1), representing a net sales growth of 19% (18).
- Recurring revenues amounted to MSEK 445.0 (346.6).
- EBITA amounted to MSEK 171.3 (147.3), representing an EBITA margin of 25% (26).
- Adjusted EBITA margin was 25% (26).
- Operating result, EBIT, amounted to MSEK 134.3 (114.6).
- Cash flow from operating activities amounted to MSEK 196.5 (142.5).
- Net income MSEK 89.4 (83.4).
- Basic earnings per share amounted to SEK 6.73 (6.28), up 7% and diluted to SEK 6.66 (6.21), up 7%
- The board proposes a dividend of 4.00 (3.50) SEK per share to the annual general meeting, distributed in two installments during the year - May and November.
CEO's comments: Strengthened software revenues and profitable growth
We ended the year with strong ARR growth of 30% and total growth of 19%, combined with an EBITA margin of 26% in the quarter. Our strong financial position means that the Board is proposing an increased dividend from SEK 3.50 to SEK 4.00 per share. For the full year, sales growth totalled 19% and the EBITA margin was 25%. Growth during the year is mainly driven by strong software revenues, which is fully in line with our strategy.
Stronger finish to the Year
I am pleased with how we ended the year. As I often say, behaving in the right way is essential to performing in a tougher market environment, and the organisation is proving that. In terms of results, we can do better, even if we delivered improved organic growth in the quarter. The same holds true for the business environment. The year ended with slightly shorter sales processes and a more optimistic market view, though this varies across countries.
Better momentum in Europe - we will accelerate even more
We continue to build a more international company, with improved growth in the rest of Europe compared to the previous quarter. We are pleased to welcome new customers, including utility company Yve AS, football club FC Copenhagen, and the German membership organisation Forschungsinstitut für Rationalisierung. Their businesses are fully in line with our strategy to gain market share in selected verticals, where we solve business-critical processes and create solutions based on solid industry knowledge.
During the quarter, we acquired Plan Plan, a local Dutch company focused on swimming schools. This marks the start of Lime Sportadmin's internationalisation - a wider focus area for 2025.
Taking steps in the right direction
Looking at the full year, 2024 was challenging across all business areas. At the same time, we remain committed and diligent, making substantial progress in the right direction.
Our largest business area, Lime CRM, concludes the year stronger than previous quarters, with solid order intake, accelerated ARR growth, and improved profits in our consulting division, Expert Services. In parallel, we have invested to put ourselves in a better position in 2025, with a stronger product offering, a more proactive organisation and a clearer focus on selected verticals, not least in our international markets.
Lime Go and Connect had a slightly tougher final quarter. At the same time, Lime Go successfully attracted more companies within the right target group, while Lime Connect ramped up sales activity.
The geopolitical situation presents ongoing challenges to society, not least in the realm of cybersecurity. In January, we were subjected to a cyberattack by a criminal network, similar to many companies before us. The attack had an isolated impact on Lime Sportadmin. Thanks to established processes for effectively managing security incidents, we were able to respond swiftly and transparently. Our top priority is to continue supporting our customers so that they can carry on with their important work. We are continuously working to develop and improve our IT security and, of course, are acting based on the lessons learned from the attack. We deeply regret the cyberattack, which is now primarily a matter for the police.
Robust profitability and a strong cash flow enable increased dividend payouts
We will achieve an EBITA margin of 25% for the full year 2024 - a stable outcome in a challenging market. During the year, we also saw a strong cash flow from operating activities. Our financial position enables the Board of Directors to propose an increased dividend to SEK 4.00 per share, resulting in a total dividend of SEK 53.2 million.
High pace of recruitment - we're continuing to build for the future
In 2024, we maintained a strong recruitment pace, and we will carry this momentum into 2025. In total, 95 new staff members were recruited from a record candidate base of almost 12,000 applicants. We've recently welcomed 30 new employees during an intensive few days in Lund - as always, an energising way to kick off the year!
We close 2024 on a positive note, with a clear focus for 2025 ahead. We are committed to building a world-class international company, combining strong growth with profitability. We have a strong starting point with six markets, four products, two revenue streams, 7,500 customers and 500 employees who are passionate about making our customers' lives easier.
Let's go!
/Nils Olsson, CEO & Managing Director, Lime Technologies
Read the entire report in the attached PDF
Invitation to webcast for the presentation of Lime Technologies' Year-end report
Today, February 12, at 09:30 CEST, analysts, investors, media, and other interested parties are invited to attend a webcast where Lime's CEO Nils Olsson, and CFO Anders Hofvander, will comment on the published report and answer questions. The presentation will be held in English.
The presentation material is available on Lime's website.
The link to the webcast can be found here.
Disclosure regulation
This information constituted inside information prior to publication. This is information that Lime Technologies AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons mentioned, at 07:50 CET on 12 February, 2025.
Contacts
- Jennie Everhed, Head of Communications & Investor Relations, +46 (0)720 80 31 01, jennie.everhed@lime.tech
- Nils Olsson, CEO, +46 (0)736 44 48 55, nils.olsson@lime.tech
About Lime Technologies AB (publ)
Lime helps businesses to become better at customer care. The company develops and sells digital products for development and management of customer relationships. Lime was founded in 1990 and has over 500 employees. The company has offices in Lund, Stockholm, Gothenburg, Malmö, Oslo, Copenhagen, Utrecht, Assen, Cologne, Helsinki and Krakow. Their customers include everything from sole traders to large organisations. www.lime-technologies.com
