Scandinavian Astor Group AB: Positive Outlook Following Strong Q4 Performance

Scandinavian Astor Group AB has reported strong financial results for Q4 2024, prompting NuWays AG to maintain a "Buy" recommendation. The company demonstrated robust sales growth, with organic sales increasing by 44% year-over-year (FY) and inorganic sales driven by mergers and acquisitions (M&A) rising 125% year-over-year. These results suggest a promising outlook for 2025 and 2026, as sales could have surpassed SEK 300 million if new acquisitions had been consolidated over the full year.

The financial performance improved significantly, with the group's EBITDA jumping to SEK 19.7 million for FY 2024, up from SEK 1.5 million the previous year. Notably, the Tech segment experienced substantial growth, contributing 25% of sales in FY 2024, mainly due to acquisitions like Scandiflash and Airsafe. Cash flow also rose impressively, facilitating future acquisitions. Astor Group's future appears bright, supported by strong organic growth and strategic expansions into new markets like Germany.