HomeMaid (HOME) Q3 2024 earnings summary

Executive summary

• Revenue grew 11.9% year-over-year in Q3 2024 to 121,181 kkr, with EBITA margin rising to 11.6% from 7.2%.

• Nine-month revenue increased 16.0% to 365,739 kkr, with EBITA up to 28,606 kkr and margin at 7.8%.

• Growth was entirely organic, driven by both subscription and one-time sales, with a focus on expanding the sales force and marketing.

• Dividend of 18,953 kkr (1.0 kr/share) was approved at the May AGM.

• Acquisition agreement for Kickis Städservice AB signed, with closing set for January 2025.

Financial highlights

• Q3 EBITDA was 18,124 kkr (15.0% margin), up from 11,628 kkr (10.7%) year-over-year.

• Q3 EBITA reached 14,078 kkr (11.6% margin), and EBIT was 13,079 kkr (10.8% margin).

• EPS for Q3 was 0.51 kr (0.23 kr), and for nine months 0.95 kr (0.54 kr).

• Operating cash flow after working capital in Q3 was 1,590 kkr, up from -4,912 kkr.

• Liquidity at period end was 11,644 kkr, with equity of 45,919 kkr and net debt of 44,421 kkr.

Outlook and guidance

• Current EBITA margin is considered sustainable, with seasonal variation expected.

• Sales and marketing activities will be intensified to further accelerate growth.

• Continued focus on organic growth and acquisitions, with a new acquisition set for 2025.