Cheffelo, a leading supplier of meal kits in the Nordic region and a leader in Scandinavian foodtech, today announced its financial results for the fourth quarter and full-year 2024.
Cheffelo's Net sales on a local currency basis grew by 11.1% in the fourth quarter, marking a strong finish to a year with growth in every quarter, landing Net sales growth for 2024 at 7.1%. Linas in the Swedish market led the way with 15.6% growth during the quarter, with GodtLevert and Adams in Norway posting 6.6% growth and RetNemt in Denmark growing with 8%.
The quarterly and full-year growth contributed to strong profitability, with full-year EBIT increasing 36% to MSEK 41.7, which accounts for 3.9% of Net sales.
With the stronger profitability and increased cash flow, Cheffelo's Board will propose a SEK 3.32 per share dividend (MSEK 41.1). This brings total cash dividends distributed to shareholders to over MSEK 90 since 2022.
CEO Walker Kinman commented: "2024 marked a clear return to growth and increased profitability. The improvements made to the customer experience have had the desired impact on order frequency and churn rates, as well as resulting in our second consecutive quarter of growth in active customers. 2025 is off to a strong start, and we expect to be in line with our Net sales growth targets while exceeding the lower end of our long-term EBIT goals, already in 2025. Our results are proof of the dedication and hard work of every team member at Cheffelo."
| Fourth quarter 2024 (Q4 2023) | Full year 2024 (Full year 2023) |
| · Net sales increased by 9.7% (5.8%) to [TS1] MSEK 296.6 (MSEK 270.3). A growth of 11.1% (8.3%) when adjusted for exchange rate differences | · Net sales increased by 5.8% (-7.6%) to MSEK 1058.2 (999.7). A growth of 7.1% (-6.2%) when adjusted for exchange rate differences |
| · Operating profit (EBIT) at MSEK 29.4 (16.1), a margin of 9.9% (6.0%) | · Operating profit (EBIT) at MSEK 41.7 (30.7), a margin of 3.9% (3.1%) |
| · Net profit for the period after taxes at MSEK 24.5 (16.3) | · Net profit for the period after taxes at MSEK 32.4 (19.3) |
| · Earnings per share before dilution at SEK 1.93 (1.29) and after dilution at SEK 1.90 (1.29) | · Earnings per share before dilution at SEK 2.56 (1.52) and after dilution at SEK 2.51 (1.52) |
Please see Cheffelo's Q4 and full-year report attached and on https://cheffelo.com/financial-reports/
Cheffelo hosts a webcast for investors, analysts and media on February 19 at 09:00 CET. Details can be found here: https://cheffelo.com/en/mfn_news/invitation-to-presentation-of-cheffelos-year-end-report-2024/
For further information, please contact:
Erik Bergman, CFO Cheffelo
Phone: +46 707 74 49 73
Mail: ir@cheffelo.com
Peter Bodor, Head of Corporate Communications, Cheffelo
Phone: +46 706 48 70 65
E-post: peter.bodor@cheffelo.com
About Cheffelo
Cheffelo was founded in 2008 with the vision of simplifying everyday life by offering a large variety of inspiring recipes and ingredients delivered directly to the customer's front door. Today, the group has almost 400 employees and is a leading supplier of meal kits in the Nordic region and a leader in Scandinavian foodtech. Cheffelo operates under the brands Linas in Sweden, Godtlevert and Adams Matkasse in Norway, and RetNemt in Denmark. In 2024, the group generated SEK 1.1 billion in revenue and delivered approximately 16 million meals to its customers. Cheffelo is listed on Nasdaq First North Premier Growth Market (ticker: CHEF). Certified Adviser: FNCA Sweden AB.
This information is information that Cheffelo is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-02-19 07:45 CET.
