Sweden-based boatbuilder Nimbus Group today released the results of its fiscal 2024 fourth quarter.
The company reported net sales of SEK$273 million ($24.7 million) for the quarter, down 24% from the previous year. The drop was attributed to decreased sales in all markets except the Nordic region, where sales increased. Gross margin amounted to 10.2%, a decrease of 3.3% compared with the previous year. At the end of the period, the company had available cash and cash equivalents of SEK$80 million ($7.3 million).
Full-year sales were SEK$1.62 billion ($147.1 million), down 15% year-over-year.
“Our task is to continue driving our business and to make the most of the signs of a turnaround that have now become increasingly numerous, while also taking advantage of the opportunities that always arise during tougher times,” Nimbus Group president and CEO Jan-Erik Lindström said in a statement. “My management team and I have to manage and adapt to the prevailing conditions but still look forward to 2025 with some confidence due to the positive signals that are nevertheless present.”
The company presented no financial guidance for fiscal 2025 in its statement.
