Enrad (ENRAD) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 reached 8,011 Tkr; operating profit before depreciation and financial items was 502 Tkr; net result per share was -0.01 kr for the group.

• For the first nine months, group net sales totaled 28,269 Tkr; operating profit before depreciation and financial items was 1,257 Tkr; net result per share was -0.03 kr.

• The parent company saw net sales of 6,812 Tkr in Q3 (up from 3,597 Tkr YoY) and 26,496 Tkr for the nine months (up from 10,971 Tkr YoY).

• The Norwegian subsidiary began operations in January 2024, so no prior-year group comparatives are available.

Financial highlights

• Group operating profit after depreciation and financial items was -261 Tkr in Q3 and -702 Tkr for the nine months.

• Parent company operating profit after depreciation and financial items was -1,029 Tkr in Q3 (improved from -1,135 Tkr YoY) and -482 Tkr for the nine months (improved from -4,570 Tkr YoY).

• Group equity at period end was 24,442 Tkr; parent company equity was 24,662 Tkr.

• Group equity ratio was 64%; parent company equity ratio was 68% (up from 58% YoY).

• Cash at period end was approximately 4.5 MSEK; inventory and receivables tied up about 24 MSEK.

Outlook and guidance

• Strong order inflow and inquiries continue; production for Q1 2025 is being planned with expectations of further growth.

• Lead times are being managed to stay below 10 weeks, with efforts to recruit more technicians to meet demand.

• Management expects continued operations throughout 2024 without the need for additional capital.