Arcoma (ARCOMA) Q2 2024 earnings summary

Executive summary

• Net sales in Q2 2024 increased by 9% year-over-year to 41,655 KSEK, with EBITDA up 103% to 5,756 KSEK and an EBITDA margin of 14%.

• Accumulated net sales for 2024 reached 88,119 KSEK, up 16% year-over-year, and EBITDA totaled 12,249 KSEK, a significant improvement from 2,635 KSEK last year.

• Strong growth in North America (106% YoY) and Asia (128% YoY); EMEA saw a 32% decline due to a strong comparison quarter.

• Aftermarket business grew 57% year-over-year, and the first system was delivered to South Korea.

• Launched the next generation Arcoma Intuition i3 during the quarter.

Financial highlights

• Q2 net sales: 41,655 KSEK (38,243 KSEK in Q2 2023); gross margin: 43% (38%).

• Q2 EBITDA: 5,756 KSEK (2,832 KSEK); EBIT: 3,692 KSEK (674 KSEK).

• Q2 pre-tax profit: 3,657 KSEK (404 KSEK); EPS: 0.28 SEK (0.03 SEK).

• Cash flow from operations in Q2: 3,141 KSEK (2,300 KSEK); cash and cash equivalents at period end: 8,540 KSEK (5,829 KSEK).

• Equity at period end: 56,491 KSEK (43,692 KSEK).

Outlook and guidance

• Continued high market activity expected in North America; cautious outlook for EMEA due to lower activity.

• Strategic actions underway to further improve gross margin and scalability.