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Move About Group
Move About Group (MOV) investor relations material
Move About Group has been delisted
Move About Group Q2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2024 earnings summary30 Aug, 2024
Executive summary
Decision made to sell the German subsidiary, the last operational unit, and liquidate the group following the June 28 AGM.
Voluntary settlement reached with all remaining creditors, leaving the group debt-free.
Cash reserves are expected to cover remaining administrative costs for liquidation and delisting.
Current management and board to resign as liquidation process begins.
Financial highlights
Q2 2024 total revenue: SEK 16,000, down from SEK 22,551,000 in Q2 2023.
Q2 2024 gross profit: SEK -69,000, compared to SEK 16,476,000 in Q2 2023.
Operating result before depreciation: SEK -2,290,000 in Q2 2024, down from SEK 1,571,000 in Q2 2023.
Net result from discontinued units: SEK -2,059,000 in Q2 2024.
Equity at June 30, 2024: SEK 6,043,000; total assets: SEK 96,877,000.
Outlook and guidance
Group will transition to semi-annual reporting for the remainder of its listing period.
Sale of the German subsidiary expected to close in the current quarter, finalizing the group's exit from operations.
Liquidation and delisting from Nasdaq First North to commence shortly.
Reconcile going concern note with liquidation plan
Update on Mobileeee divestment timeline
What was the impact of the Q3 creditor accord?
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Frequently asked questions
Move Logistics Group Limited, based in New Zealand, provides comprehensive freight and logistics solutions. The company's operations are divided into five main segments: International, Specialist, Freight, Contract Logistics, and Corporate. The International segment handles freight forwarding and shipping agency services across various industries. The Specialist segment focuses on transport and lifting solutions for oversized items. The Freight segment offers nationwide general freight transport services. Contract Logistics provides warehousing, supply chain capabilities, and bulk liquid delivery. The company is headquartered in New Plymouth, New Zealand, and its shares are listed on the NZX and ASX.
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