EasyFill (EASY) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 decreased by 16.5% year-over-year to 14,588 tkr, mainly due to declines in Enjoy Sales and Ebeco.

• EBITDA for Q3 was -4,334 tkr, down from -3,875 tkr in Q3 2023; net result after tax was -7,070 tkr.

• For Jan–Sep 2024, net sales increased 12.6% year-over-year to 67,681 tkr, with improved EBITDA and net result compared to 2023.

• Strategic divestment of Ebeco finalized, focusing the group on core smart shelving and store fittings.

• Ongoing partnerships and market tests with HL Display and ITAB aim to drive future growth.

Financial highlights

• Q3 2024 net sales: 14,588 tkr (17,484 tkr in Q3 2023); Jan–Sep 2024: 67,681 tkr (60,078 tkr in 2023).

• Q3 EBITDA: -4,334 tkr (-3,875 tkr); Jan–Sep EBITDA: -6,896 tkr (-10,163 tkr).

• Q3 net result after tax: -7,070 tkr (-6,230 tkr); Jan–Sep: -13,993 tkr (-17,189 tkr).

• Cash and cash equivalents at period end: 1,325 tkr (3,316 tkr in 2023).

• Equity at period end: 21,434 tkr (42,382 tkr in 2023).

Outlook and guidance

• Focus on core business after Ebeco divestment, aiming for recurring orders and long-term partnerships.

• Market tests ongoing in Europe, USA, and upcoming in Mexico and the Nordics.

• New partnerships and product launches expected to support future growth.