Invoicery Group (FRILAN) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 rose 13.65% year-over-year to 433 MSEK, with EBITDA at 5.0 MSEK and net income at 3.6 MSEK, reflecting strong growth in Workforce Management and Egenanställning.

• Swedish operations drove growth, while international revenues declined; cost control and efficiency measures improved profitability.

• Workforce Management segment saw a 47.1% revenue increase in Q3, while Egenanställning grew 8.8%.

• No significant events occurred during or after the reporting period.

Financial highlights

• Q3 2024 net sales: 433 MSEK (381 MSEK Q3 2023), up 13.65%.

• EBITDA: 5.0 MSEK (0.3 MSEK), margin 1.16% (0.08%).

• Operating income: 4.2 MSEK (-0.8 MSEK); net income: 3.6 MSEK (-0.7 MSEK).

• 9M 2024 net sales: 1,278 MSEK (1,169 MSEK), up 9.32%; EBITDA: 8.4 MSEK (-4.7 MSEK).

• Cash at period end: 72.0 MSEK (55.4 MSEK); equity: 49.8 MSEK (41.2 MSEK).

Outlook and guidance

• Continued focus on strengthening Swedish market and improving international performance.

• Ongoing investments in marketing and IT to support growth and efficiency.

• Internationalization strategy aims to lower costs and increase European market presence.