Cloudberry Clean Energy Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags

Cloudberry Clean Energy (OB:CLOUD) Full Year 2024 Results

Key Financial Results

• Revenue: kr382.0m (up 15% from FY 2023).
• Net income: kr95.0m (down 65% from FY 2023).
• Profit margin: 25% (down from 82% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: kr0.33 (down from kr0.93 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Cloudberry Clean Energy Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 7.0%. Earnings per share (EPS) missed analyst estimates by 13%.

The primary driver behind last 12 months revenue was the Commercial segment contributing a total revenue of kr569.0m (149% of total revenue). The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to kr174.0m (41% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of kr169.0m. Explore how CLOUD's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Renewable Energy industry in Norway.

Performance of the Norwegian Renewable Energy industry.

The company's shares are down 2.3% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 2 warning signs for Cloudberry Clean Energy you should be aware of, and 1 of them doesn't sit too well with us.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.