I Love Lund (LOVE) Q3 2024 earnings summary

Executive summary

• Focuses on investing in early-stage, innovative companies in Lund, with a diversified portfolio of about 50 mainly unlisted growth companies across multiple sectors.

• Emphasizes local economic development, active networking, and sustainable investment practices.

• Third quarter marked by continued challenges for small, unlisted companies, with pressure on portfolio firms to achieve positive cash flow.

• Initiated a rights issue during Q3, raising over SEK 4 million to support increased investment pace.

• Hosted several well-attended shareholder and networking events, strengthening community engagement.

Financial highlights

• Net sales for Q3 and the nine-month period were SEK 0 (unchanged year-over-year).

• Operating result for Q3: SEK -681k (Q3 2023: -705k); for Jan–Sep: SEK -2.2m (Jan–Sep 2023: -2.0m).

• Financial items, including write-downs, for Q3: SEK -814k (Q3 2023: 4m); for Jan–Sep: SEK -2.3m (Jan–Sep 2023: -46k).

• Result after financial items for Q3: SEK -1.5m (Q3 2023: 3.3m); for Jan–Sep: SEK -4.5m (Jan–Sep 2023: -2.1m).

• Earnings per share for Q3: SEK -3.9 (Q3 2023: 8.8); for Jan–Sep: SEK -11.7 (Jan–Sep 2023: -5.4).

Outlook and guidance

• No formal forecasts provided; strategy includes annual capital raises and financial returns to support growth.

• Ongoing review of new and follow-on investments post-period.