KebNi (KEBNI) Q2 2024 earnings summary

Executive summary

• Achieved first quarter with positive operating cash flow and sustained 10% EBITDA margin, reflecting continued profitability and stable revenues year-over-year.

• Both Inertial Sensing and Satcom product areas contributed substantially to Q2 revenue; Satcom business remains project-based and variable.

• High market engagement with record number of quotes; new opportunities from Sweden's NATO membership and international interest in SensAltion product line.

• ScaffSense joint venture completed successful large-scale pilot and began commercialization; new CEO and board appointments made.

Financial highlights

• Q2 2024 net sales rose 318% to 30,901 KSEK (7,392 KSEK in Q2 2023); H1 2024 net sales up 239% to 61,881 KSEK (18,275 KSEK in H1 2023).

• Q2 EBITDA was 3,073 KSEK (–14,077 KSEK); Q2 operating profit 1,859 KSEK (–11,732 KSEK); Q2 net profit 1,663 KSEK (–10,936 KSEK).

• Q2 operating cash flow positive at 3,859 KSEK (–5,691 KSEK); period-end cash 11,742 KSEK (11,694 KSEK).

• H1 2024 EPS before and after dilution was 0.01 SEK (–0.09/–0.08 SEK in H1 2023).

Outlook and guidance

• Focus on ramping up series deliveries to Saab, product development, and intensified marketing in Europe and Asia.

• Working capital credit facility of 15 MSEK secured post-quarter to support growth initiatives.

• Anticipates continued sustainable growth, supported by strong demand in both Inertial Sensing and Satcom markets.