I Love Lund (LOVE) Q2 2024 earnings summary

Executive summary

• Investment pace increased in Q2 2024, with SEK 1.7M allocated mainly to Beammwave, Sensative, and Life Finder; no new investments or divestments occurred.

• Result after financial items improved to -1.0 MSEK in Q2 2024 from -3.0 MSEK in Q2 2023, mainly due to reduced write-downs and a reversal in Life Finder.

• Portfolio consists of about 50 mainly unlisted, early-stage, innovative companies, diversified across sectors and focused on the Lund region.

• Cash position remains strong, with SEK 3.9M at period end and no long-term interest-bearing debt.

• Several well-attended shareholder events were held, including a visit to Alfa Laval.

Financial highlights

• Net sales for both Q2 and H1 2024 were SEK 0 (unchanged year-over-year).

• Operating result for Q2 2024 was -811 TSEK (vs. -686 TSEK Q2 2023); H1 2024 was -1.5 MSEK (vs. -1.3 MSEK H1 2023).

• Financial items (mainly write-downs) for Q2 2024 were -150 TSEK (vs. -2.3 MSEK Q2 2023); H1 2024 was -1.5 MSEK (vs. -4.1 MSEK H1 2023).

• Result after financial items for H1 2024 was -3.0 MSEK (vs. -5.4 MSEK H1 2023); EPS for H1 2024 was -7.8 SEK (vs. -14.2 SEK H1 2023).

• Investments in portfolio companies totaled SEK 2.9M in H1 2024 (vs. SEK 2.3M H1 2023).

Outlook and guidance

• Management sees a cautiously optimistic market sentiment, with increased risk appetite driven by lower inflation and interest rate trends.

• No formal forecast is provided.

• Pipeline of investment opportunities is considered strong, with a target of 2–4% cash holding in the near term.