October - December 2024
Net sales increased by 18 % YoY. Consolidated net sales ended at 107,557 (SEK 000s). EBITDA totaled -7,999 (SEK 000s). Operating profit, EBIT, was -73,849 (SEK 000s). Profit after tax was 1,543,985 (SEK 000s). Earnings per share was SEK 22.64.
January - December 2024
Net sales increased by 26 % YoY. Consolidated net sales ended at 413,178 (SEK 000s). EBITDA totaled 48,949 (SEK 000s). Operating profit, EBIT, was -80,525 (SEK 000s). Profit after tax was 1,530,436 (SEK 000s). Earnings per share was SEK 22.43.
CEO Comments
Dear Shareholders,
I am pleased to share this report as we enter a new transformative phase for our organization. Since assuming the dual roles of CEO and CFO, I have been focused on building our long-term strategy and laying the groundwork for sustainable profitable growth. At the same time, a priority has been on post-closing commitments, including the expedited timeline for year-end reporting for 2024, ensuring that the proposed dividend can be paid to shareholders as planned following the AGM in April. With this solid foundation in place, my commitment is to lead the company toward sustained success and long-term value creation.
A Milestone Achievement and Commitment to Shareholder Value
As we close an eventful year, I want to take a moment to reflect on what we have achieved. 2024 has been a transformational year for our company, marked by the successful completion of the sale of the 24SevenOffice ERP division to KKR for SEK 2.4 billion. The transaction is not just a major milestone but a testament to the strength of our business and the value the company has built over time.
The financial performance for 2024 was significantly impacted by the sale, with EBITDA affected by non-recurring transaction-related costs, including advisory and restructuring expenses, while net profit reflects substantial financial income from the transaction. The group reported consolidated revenue of MSEK 413, EBITDA of MSEK 49, and net profit of BSEK 1.53.
Excluding the performance of the sold ERP division, the group's remaining businesses generated MSEK 32.5 in revenue with an EBITDA of MSEK -2.8 in 2024.
Following the transaction, a core priority has been delivering strong shareholder returns while maintaining the financial strength to invest in future growth. As part of this, the SEK 23.50 per share dividend has been proposed by the Board. The first instalment of SEK 6.85 per share was successfully paid on January 22, 2025, and the remaining SEK 16.65 per share is pending approval at the AGM beginning of April 2025.
The company has strategically retained MSEK 200 in growth capital, ensuring that Done.ai Group is well-positioned for long-term expansion through both organic initiatives and strategic acquisitions.
Embracing a New Identity: Done.ai Group
Following the transaction and the sale of the 24SevenOffice brand, we have submitted the proposal to rebrand as Done.ai Group. This transition is about more than just a name change, it represents our commitment to innovation, technology-driven growth, and financial services integration.
Done.ai Group is now a portfolio of high-growth businesses structured around two primary business areas: Material Resource Planning (MRP) and Fintech.
- The MRP market is experiencing strong momentum, driven by digitalization and domestic manufacturing incentives that are accelerating demand for cloud-based solutions. Our cloud-based software, Masterplan, is well positioned to capitalize on these trends, building on our growing customer base in the USA, Canada, and the Nordics.
- Fintech is a key pillar of our future growth, with Done.ai positioning itself as the embedded finance solution for ERP systems, enabling businesses to seamlessly integrate financial services for real-time control, automation, and efficiency.
Strategic Focus: Building a Scalable and Profitable Business
As we enter 2025, our strategic priority is clear: achieving run-rate profitability while scaling our core business areas. Several initiatives are already underway to drive this forward:
Accelerating Growth in MRP:
Our Masterplan platform is gaining solid market traction, with recent pipeline conversions demonstrating Masterplan's ability to compete effectively against industry leaders. Additionally, we see a significant opportunity to acquire and consolidate on-premise MRP providers, transitioning them to our SaaS-based model. By leveraging our expertise in scalable enterprise solutions, we aim to enhance efficiency, reduce costs, and provide long-term value to our customers.
Expansion of our Fintech Offering:
A key part of our strategy is the development and launch of our embedded Fintech platform, which will initially be integrated with 24SevenOffice, where we have a three-year exclusive agreement to provide financial services to their customers. This gives us direct access to an established customer base, allowing businesses to manage their financial operations seamlessly within their existing system. The platform will offer services such as deferred payments, factoring, spend management, and open banking, generating new revenue streams through transaction-based and interest-based models. By embedding financial services directly into business workflows, we aim to streamline financial management for end-customers while capturing this growing market opportunity. In January, we announced a strategic partnership with Nordiska Kreditmarknadsaktiebolaget (publ), which serves as the banking partner enabling financial services within the platform. This collaboration is a critical step toward launching our embedded finance solutions to 24SevenOffice's customer base, with the first products expected to go live in H2 2025.
Disciplined Capital Allocation and Strategic Acquisitions:
With SEK 200 million in retained capital, we have the flexibility to invest in strategic acquisitions that align with Done.ai's strategy. Our focus is on high-margin, scalable businesses that complement our existing portfolio, ensuring that each investment drives long-term growth and profitability. By maintaining a disciplined and strategic approach to capital allocation, we are committed to maximizing value creation for our shareholders while strengthening our position in our high-growth markets.
Looking Ahead
Done.ai Group is in a strong position. We have a well-capitalized balance sheet, a clear strategic roadmap, and a market opportunity that plays to our strengths. While 2024 was a year marked by the sale of 24SevenOffice businesses, 2025 will be a year of building where we focus on scaling our core businesses, driving efficiency, and positioning Done.ai as the partner of choice by our customers.
I want to extend my gratitude to our employees, Board, and shareholders for their trust and dedication during this period of change. With our strong foundation, disciplined strategy, and our clear vision, we are ready to seize the opportunities ahead and deliver lasting value to our customers, partners, and shareholders.
Thank you for your continued support.
Staffan Herbst
CEO & CFO, Done.ai Group
This disclosure contains information that 24SevenOffice Group AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 27-02-2025 08:15 CET.
For further information please contact:
Staffan Herbst, CEO and CFO
Tel: +46 10 490 07 00, ir@done.ai
Certified Adviser
The Certified Adviser to 24SevenOffice on Nasdaq First North Growth Market is Partner Fondkommission.
Address: Lilla Nygatan 2, 411 09 Gothenburg
Telephone: +46 (0)31-761 22 30
Website: partnerfk.com
About Done.ai
Previously known as 24SevenOffice, Done.ai builds on a legacy of innovation in ERP systems. With its new name, the Company is dedicated to providing AI-driven financial services that are fully integrated with ERP systems, empowering businesses to operate more efficiently and effectively.
