Det Østasiatiske Kompagni (OKEAC) H1 2024 earnings summary

Executive summary

• Dividend income from investments reached DKK 1.5m in H1 2024, in line with expectations; net result for the period was DKK -1.0m compared to DKK -0.5m in H1 2023.

• Cash position at June 30, 2024 was DKK 10.1m, with DKK 4.2m in China subject to currency restrictions.

• No significant events occurred after June 30, 2024; full-year 2024 guidance remains unchanged.

Financial highlights

• EBIT for H1 2024 was DKK -1.7m (H1 2023: DKK -1.6m); net result DKK -1.0m (H1 2023: DKK -0.5m).

• Total assets at June 30, 2024 were DKK 37.1m; equity DKK 36.7m, equity ratio 98.9%.

• Cash flow from operations was DKK -1.2m, improved from DKK -1.5m in H1 2023; total cash flow DKK -0.3m.

• Dividend income from investments was DKK 1.5m, up from DKK 0.9m in H1 2023.

Outlook and guidance

• Expected full-year 2024 operating costs (EBIT) of around DKK -2.7m, unchanged from previous guidance.

• Anticipated dividend income from Asian minority investments of DKK 1.5m; year-end cash expected at DKK 9.0m.

• No disposals expected in 2024; continued active involvement in portfolio companies.