The Group’s sales revenues in Q4 2024 amounted to NOK 574.4 million which is a NOK 3.0 million (0.5 %) increase from Q4 2023. Sales revenue for YTD Q4 2024 amounted to NOK 2,167.4 million which is NOK 55.5 million (2.5 %) lower than for the same period in 2023.
The EBITDA in Q4 was 49.3 million in 2024, compared to 55.9 million in 2023. The Group achieved an EBITDA YTD Q4 2024 of NOK 212.9 million compared to NOK 293.3 million in the same period last year.
The adjusted operating profit in Q4 2024 was NOK 26.2 million compared to NOK 31.7 million in the same period last year. For YTD 2024, the adjusted operating profit was NOK 125.1 million, compared to NOK 203.1 million last year. The operating profit contains non-recurring items, please see reconciliation of adjusted operating profit in Alternative Performance Measures after the notes to the interim report.
From 9 March 2023 the investment in Norske Skog ASA is classified as an investment in associate and is accounted for using the equity method in accordance with IAS 28. See note 12 for more information. Share of profit from associate was NOK -201.8 million YTD Q4 2024. See Norske Skog ASA's latest quarterly report and annual accounts for more information.
The Group achieved an adjusted profit before tax in Q4 2024 of NOK 3.3 million, compared to NOK (0.6) million last year. Adjusted profit before tax YTD Q4 was NOK 31.7 million compared to NOK 109.9 million in the same period in 2023.
YTD Q4 2024, net financials amounted to an expense of NOK 93.4 million which is NOK 0.1 million increase in cost compared to the same period in 2023. The main reasons for the increase in net financial expenses are increased interest rates, and changes in the value of interest rate swaps. Please see note 3 for specification of net financials.
The liquidity reserve as of 31 December 2024 amounted to NOK 122.0 million, a reduction of NOK 145.6 million from 1 January 2024. The Board of Directors will maintain its focus on capital and cost-efficiency.
Net interest-bearing debt is decreased from NOK 1,375.7 million as of 1 January 2024 to NOK 1,365.8 million as of 31 December 2024. As of the fourth quarter of 2024, there were acquired loans of NOK 74.3 million.
Investments in tangible fixed assets and intangible assets YTD Q4 2024 totaled NOK 40.5 million which is NOK 36.7 million lower than in 2023.
Total assets decreased from NOK 3,240.6 million as at 1 January 2024 to NOK 2,911.8 million as at 31 December 2024. Booked equity as of 31 December 2024 was NOK 912.5 million (31.3 %), which is a decrease of NOK 216.6 million compared to 1 January 2024 (34.8 %). The reasons for the change in equity are due to the profit of the year of NOK -258.6 million, a currency translation difference of NOK -0.1 million and share of other comprehensive income from associate of NOK 42.1 million.
*) Definition of EBITDA, adjusted operating profit, liquidity reserve, profit
margin and net interest-bearing debt are added after the notes.