Enrad (ENRAD) Q2 2024 earnings summary

Executive summary

• Net sales for Q2 2024 reached 12,634 Tkr for the group and 12,367 Tkr for the parent, up significantly year-over-year.

• Operating profit before depreciation and financial items for Q2 was 1,375 Tkr (group) and 1,925 Tkr (parent), both showing strong improvement.

• Net sales for H1 2024 totaled 20,258 Tkr (group) and 19,727 Tkr (parent), with the group showing a 160% increase from the previous year.

• The group reported a net loss of -441 Tkr for H1 2024, while the parent company posted a profit of 547 Tkr.

• Strong order intake and expansion activities, including new hires and market entries, supported growth.

Financial highlights

• Group Q2 net sales: 12,634 Tkr; H1: 20,258 Tkr.

• Group Q2 operating profit before depreciation: 1,375 Tkr; H1: 755 Tkr.

• Group Q2 operating profit after depreciation: 799 Tkr; H1: -441 Tkr.

• Parent Q2 net sales: 12,367 Tkr (up from 2,465 Tkr); H1: 19,727 Tkr (up from 7,373 Tkr).

• Parent Q2 operating profit after depreciation: 1,368 Tkr (up from -2,377 Tkr); H1: 547 Tkr (up from -3,435 Tkr).

Outlook and guidance

• Management expects continued growth, with production planning extending into late November and a strong order backlog.

• Focus remains on controlled expansion, hiring, and market development in Sweden, Finland, Germany, and Norway.

• No capital injection is deemed necessary for continued operations through 2024.