Fourth Quarter Report 2024
SERSTECH GROUP, 1 OCTOBER – 31 DECEMBER 2024
- Net sales amounted to KSEK 13 326 (4 209).
- EBITDA amounted to KSEK -1 515 (-4 390).
- EBIT amounted to KSEK -3 725 (-7 405).
- Cash flow from operating activities amounted to KSEK 3 645 (4 667).
- Earnings per share amounted to SEK -0.02 (-0.04).
- Earnings per average number of shares amounted to SEK -0.02 (-0.04).
SERSTECH GROUP, 1 JANUARY – 31 DECEMBER 2024
- Net sales amounted to KSEK 52 262 (62 913).
- EBITDA amounted to KSEK -1 199 (12 900).
- EBIT amounted to KSEK -9 040 (955).
- Cash flow from operating activities amounted to KSEK 562 (7 632).
- Earnings per share amounted to SEK -0.04 (0.00).
- Earnings per average number of shares amounted to SEK -0.04 (0.00).
Message from the CEO
Our net sales in 2024 were 52.3 MSEK, with a net result of -9.1 MSEK. The year ended in a strong way, with an order intake of approximately 28 MSEK in Q4, whereof 15.9 MSEK will be delivered and invoiced in Q1 2025. There are several significant improvements compared to the record-breaking 2023. In 2023, we delivered three major orders from two partners, whereof one order was almost half the annual revenue. In 2024, we delivered seven major orders from seven partners. We see that the order distribution will likely continue to develop in the right direction, reducing the risk and dependency on a small number of partners.
In 2025, we will spend significant resources on reevaluating our partner network to identify key partners and fill gaps in the coverage. To do this, we are investing more in sales and the expanded team will visit all partners we think have potential before the end of the year. During the pandemic we lost the contribution from most of our par tners. Some closed their operations, and some shifted their efforts to other areas still open for business. We know from experience that we need to push again and again to stay top-of[1]mind with our partners, who often sell a broad variety of other products. With 170 partners and only three people in sales, this has been a challenge in the past.
We are adding two salespeople during the first half of 2025, and we have recruited a new head of sales, who starts in March. He will lead the efforts to build the sales team, and we aim to have the complete team in place before the end of the summer. We will see significant effects of our sales investments in 2026 and beyond.
In May 2024, we launched the new Serstech Arx mkII. Throughout the year, we have spent all our R&D resources on improving it further, through upgrades of the software, algorithms, production process, and libraries. We have also invested in our SERS offering, i.e. the various accessories that allow our handheld instruments to go way beyond what a handheld instrument traditionally can do. With the SERS accessories, we can identify miniscule amounts of powders and liquids, very low concentrations, and samples with weak Raman signals. The feedback we receive from the market is that our SERS accessories are by far the best solution in the industry, and customers almost always include some SERS products when they place an order of our instruments.
At the end of the year, we secured additional capital, which will allow the investments in sales and R&D and significant improvements in our production. The market remains larger than usual, and we need to invest in sales to be able to capture the increased volumes available. The plan is that our sales team will grow from three people to six in 2025, and as our sales capacity grows, we will add focus on the military customer segment, which is relatively new to Serstech.
We are convinced that 2025 will return us to growth and the investments we are now doing in sales and R&D will allow us to build a strong pipeline for 2026 and onwards.
Stefan Sandor, CEO
February 2025
For further information, please contact:
Stefan Sandor,
CEO, Serstech AB Phone: +46 739 606 067
Email: ss@serstech.com
or
Thomas Pileby,
Chairman of the Board, Serstech AB Phone: +46 702 072 643
Email: tp@serstech.com
or visit: www.serstech.com
This is information that Serstech AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at 08:45 CET on February 27, 2025.
Certified advisor to Serstech is Svensk Kapitalmarknadsgranskning AB (SKMG).
About Serstech
Serstech delivers solutions for chemical identification and has customers around the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organizations and first responders. The solutions and technology are however not limited to security applications and potentially any industry using chemicals of some kind could be addressed by Serstech’s solution. Serstech’s head office is in Sweden and all production is done in Sweden.
Serstech is traded at Nasdaq First North Growth Market and more information about the company can be found at www.serstech.com
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