Auroora continued its profitable growth in 2024
January–December 2024*
- Revenue grew by 17.9% to EUR 142.6 million (EUR 121.0 million)
- Revenue (LTM**) was EUR 159.8 million (EUR 126.1 million)
- Adjusted EBITA was EUR 9.0 million (EUR 5.9 million), representing 6.3% of the revenue
- Adjusted EBITA (LTM) was EUR 11.9 million (EUR 6.1 million)
- Adjusted operating profit was EUR 4.9 million (EUR 2.9 million), or 3.4% of the revenue
- Net cash flow from operating activities was EUR 16.9 million (EUR 2.3 million)
* Figures for 2023 are pro forma and account for differences in accounting principles.
** LTM (Last Twelve Months) = Acquired businesses as if owned for the 12-month reporting period.
The year 2024 was, above all, a year of successful acquisitions for Auroora Group. The company’s acquisition engine performed exceptionally well, bringing five new, highly profitable companies into Auroora Group. At the same time, existing companies were further developed and strengthened.
Auroora’s profitability improved in 2024 not only through acquisitions but also organically. The company’s reported revenue for the year increased by 17.9% to EUR 142.6 million. Profitability also improved: adjusted EBITA for the year grew by 51.9% to EUR 9.0 million, or 6.3% of the revenue. Net cash flow from operations increased to EUR 16.9 million, significantly boosted by the strong profitability of the Electrification & Automation segment and newly acquired businesses, as well as improved efficiency in managing net working capital.
The company’s LTM revenue reflected the success of acquisitions, growing by 26.7% to EUR 159.8 million. LTM includes acquired businesses as if they had been owned for the full 12-month period. Adjusted LTM EBITA grew by 94.6% to EUR 11.9 million, highlighting the strong profitability of the new companies.
Ready for future growth
Another focus for the year was building capabilities and readiness for significant future growth. Auroora reorganised its group structure to better support the new strategy. The company also adopted IFRS reporting and implemented world-class reporting systems. On the sustainability front, Auroora completed a double materiality assessment and prepared for reporting in line with the EU’s Corporate Sustainability Reporting Directive (CSRD).
The EUR 7.0 million investment made by mutual pension insurance company Varma in summer 2024 further strengthened Auroora’s financial position. Varma’s involvement provides flexibility for larger transactions going forward.
“Auroora continues its strong growth. In 2024, we welcomed five excellent and highly profitable companies into the Auroora family. At the same time, we prepared for the future growth of all our companies by improving reporting, leadership, and the integration of sustainability into our business. As a serial acquirer, it’s important to Auroora to support and develop its existing companies while continuing to acquire new ones,” says CEO Antti Rauhala.
Key figures
| EUR million | 2024 | 2023* | Change % |
|---|---|---|---|
| Revenue | 142.6 | 121.0 | 17.9% |
| Operating profit | 3.9 | 1.9 | 107.7% |
| Operating profit, % | 2.7% | 1.5% | |
| Adjusted EBITA | 9.0 | 5.9 | 51.9% |
| Adjusted EBITA, % | 6.3% | 4.9% | |
| EBITA | 8.0 | 4.9 | 63.9% |
| EBITA, % | 5.6% | 4.0% | |
| Adjusted operating profit | 4.9 | 2.9 | 67.3% |
| Adjusted operating profit, % | 3.4% | 2.4% | |
| Net cash flow from operations | 16.9 | 2.3 | 636.5% |
| Equity ratio, % | 48.8% | 48.7% | |
| Net interest-bearing debt** | 14.5 | 17.1 | -14.8% |
| Net debt / adjusted EBITDA (LTM) | 1.4 | 2.8 | -49.9% |
| Return on capital employed (ROCE), % | 10.9% | 8.5% | |
| Employees at year-end | 667 | 507 |
* 2023 figures are pro forma and account for differences in accounting principles.
** Net debt adjusted for lease liabilities
Annual Report and Sustainability Report Published
Auroora Group has published its Annual Report and Sustainability Report for 2024. The publication includes the Board of Directors’ report, Consolidated Financial Statements, auditor’s report, and the Sustainability Report.
The full report is available at: https://auroora.com/wp-content/uploads/Auroora-vuosikertomus-ja-vastuullisuusraportti-2024.pdf
More information:
Antti Rauhala, CEO, Auroora Group, +358 40 549 0080
Auroora Group – a Finnish serial acquirer
Auroora Group is a Finnish serial acquirer, comprising over 20 SMEs employing approximately 700 people. In 2024, the company’s revenue amounted to 143 million euros. Auroora grows through three business segments focusing on sustainable value creation and responsible solutions: Electrification and Automation, Clean Water and Environmental Technology, and Industrial Products and Services. Auroora is a long-term owner that retains its subsidiaries permanently, providing a platform for their growth.
www auroora.com