Condo Nordic Holding

Condo Nordic Holding's interim report for January to December 2024 highlights significant growth in sales, particularly in Q4, where net sales increased by 24% compared to the previous year. Despite this growth, the company faced challenges with increased lease costs in Finland, impacting profitability. The EBITDA for Q4 was negative, reflecting a decrease compared to the previous year. The company is actively working on improving cash flow and liquidity, including plans to enter the Swedish market. Throughout 2024, net sales rose by 8%, but gross profit declined due to increased operational expenses and the costs associated with establishing a holding company in Sweden. The report also mentions the reverse acquisition of Condo Finland Oy and outlines the company's focus on providing project accommodation solutions. The company is addressing market trends such as the preference for longer stays and the rise in business travel. The financial outlook includes efforts to secure additional funding and optimize working capital to ensure sustainable growth.