Växjö, Sweden, 12 February 2025 * * * JLT Mobile Computers, a leading supplier of rugged computers for demanding environments, today publishes its Year-end report for the full year 2024.
Summary of key figures
- Order intake MSEK 103.0 (135.4)
- Net revenues MSEK 118.4 (158.8)
- EBITDA MSEK -2.1 (4.8)
- Depreciation and amortization of development expenses MSEK -8.1 (-2.5)
- Operating profit MSEK -9.7 (1.9)
- Profit after taxes MSEK -7.7 (1.6)
- Cashflow +6.8 (-21.5)
- No dividend is proposed (SEK 0.00)
In short
- Challenging macroeconomic and geopolitical conditions resulted in lower-than-normal demand for JLT products, a rough year for JLT as well as for many other industry colleagues where reports of layoffs and closures occurred.
- Order intake for the year amounted to MSEK 103 compared to MSEK 135 last year, and sales amounted to MSEK 118, a decrease from MSEK 159 last year.
- Starting to see a recovery in the market – several major deals booked in the US during the first quarter of 2025, of which one for a leading American food producer to a value of MSEK 22 plus service agreements (press release 2025-01-10). The total order intake in Q1 2025 so far exceeds MSEK 40.
- To create a more cost-effective and market-adapted structure that enables efficient management and customer-driven development of JLT’s software solutions, the operations of the subsidiary JLT Software Solutions AB have been discontinued (press release 2025-01-17). Capitalized development expenses in the company have been written down and, together with other discontinuation costs, impact the group’s results in the fourth quarter by MSEK 5.0, of which MSEK 1.2 affects cash flow. Software development, including the JLT Insights product, has been integrated with the group’s other product development.
- Development expenses related to Android have been written down by MSEK 1.7, as the product’s sales did not develop as expected.
- In 2024, organizational and R&D costs were reduced by MSEK 5.4, despite one-time costs of MSEK 1.2. EBITDA ended at MSEK -2.1, compared to MSEK 4.8 the previous year. For 2025, the mentioned measures are expected to provide additional savings of MSEK 1.5 and reduce amortization of development expenses to MSEK 0.5 compared to MSEK 8.1 for 2024.
- The core products in JLT’s VERSO and JLT1214™ series have been upgraded with new processors and new technology during the year to maintain JLT’s strong market position (press release 2024-06-13: VERSO and press release 2024-10-22: JLT1214).
- In October, a senior marketing manager with extensive industry experience was recruited to JLT’s American subsidiary to lead marketing and partner strategy in the USA (press release 2024-10-15).
- The organization in the French subsidiary, JLT France, has been expanded with a salesperson, and a planned generational shift in leadership has been carried out (press release 2024-10-01).
- As a result of strategic measures implemented during 2024, inventory was reduced by 6.9 MSEK. Cash flow was positively impacted, and JLT added 6.8 MSEK to its cash reserves. Inventory is expected to be gradually reduced further during 2025.
- 2024 marked an important milestone for JLT, celebrating 30 years as an innovator of rugged computer solutions (press release 2024-12-12). Since its inception in 1994, JLT has been part of the extensive transformation that the rugged IT solutions industry has undergone.
The full interim report is attached to this press release and available for download at the company’s website, jltmobile.com. Additional financial information is available online on JLT’s investor pages.
This information is information that JLT Mobile Computers AB (pub) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out below, at 08:00 pm CET on Wednesday, February 12, 2025.
About JLT Mobile Computers
JLT Mobile Computers is a leading supplier of rugged mobile computing devices and solutions for demanding environments. 30 years of development and manufacturing experience have enabled JLT to set the standard in rugged computing, combining outstanding product quality with expert service, support and solutions to ensure trouble-free business operations for customers in warehousing, transportation, manufacturing, mining, ports and agriculture. JLT operates globally from offices in Sweden, France, and the US, complemented by an extensive network of sales partners in local markets. The company was founded in 1994, and the share has been listed on the Nasdaq First North Growth Market stock exchange since 2002 under the symbol JLT. Eminova Fondkommission AB acts as Certified Adviser. Learn more at jltmobile.com.
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