Concejo (CNCJO) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 increased 9% year-over-year to 149.6 MSEK, with EBIT at 1.1 MSEK and net income at 1.8 MSEK, reflecting improved operational results.

• For the nine months, net sales rose 10% to 415.7 MSEK, but EBIT was -22.3 MSEK and net income -15.4 MSEK, impacted by investments and segment volatility.

• Firenor International acquired Matre Maskin AS and secured major contracts in offshore wind, strengthening its market position.

Financial highlights

• Q3 net sales: 149.6 MSEK (137.4), EBIT: 1.1 MSEK (0.0), EBT: 2.3 MSEK (0.2), net income: 1.8 MSEK (-0.7), EPS: 0.18 SEK (-0.24).

• Jan–Sep net sales: 415.7 MSEK (377.9), EBIT: -22.3 MSEK (-7.3), EBT: -14.3 MSEK (-7.9), net income: -15.4 MSEK (-11.4), EPS: -1.30 SEK (-1.24).

• Cash flow from operations was -28.1 MSEK for Jan–Sep, with negative working capital changes and continued investments.

• Equity at period end: 704.2 MSEK (745.3), solid equity ratio of 65%.

Outlook and guidance

• Management expects continued volatility between quarters but anticipates greater stability as portfolio companies mature.

• Strong order books and ongoing investments are expected to support future growth and profitability.