JLT Mobile Computers (JLT) Q2 2024 earnings summary

Executive summary

• Net sales for H1 2024 were SEK 69.6 million, down 21% year-over-year, with order intake stable at SEK 55.0 million.

• Operating profit was SEK -0.5 million, compared to break-even last year; profit after tax improved to SEK 0.2 million.

• Gross margin increased to 43.5% from 39.6%, driven by product mix and higher service revenues.

• Cost savings reduced operating expenses by SEK 5 million; positive cash flow of SEK 4.2 million achieved.

• The Australian reseller contributed SEK 0.9 million to group earnings; inventories reduced by SEK 3 million.

Financial highlights

• EBITDA for H1 2024 was SEK 1.3 million, EBITDA margin 1.8%, unchanged year-over-year.

• Operating margin was -0.7% versus 0.0% last year; profit margin at 0.5%.

• Earnings per share were SEK 0.01, up from SEK 0.00; equity per share at SEK 1.95.

• Cash and cash equivalents at period end were SEK 10.7 million, down from SEK 29.0 million last year.

• Solidity improved to 58% from 53% year-over-year.

Outlook and guidance

• Initial signs of market stabilization observed, but customers remain cautious on large projects.

• Operations have been adapted to current conditions; long-term growth and profitability targets maintained.