Malmbergs Elektriska (MEAB) Q3 2024 earnings summary

Executive summary

• Revenue for January–September 2024 was SEK 366.5 million, down from SEK 433.5 million year-over-year, reflecting a challenging market and lower volumes.

• Operating income for the period was SEK -19.8 million, compared to SEK 17.4 million last year; net income after tax was SEK -20.2 million versus SEK 13.7 million.

• Cost reduction and efficiency measures are starting to yield results, providing a foundation for future recovery as market conditions improve.

• Product range expanded, especially in lighting and EV charging, with inventory levels maintained.

• Launch of a new DC fast charger for electric vehicles strengthens the green technology offering.

Financial highlights

• Revenue for Q3 2024 was SEK 113.1 million, down from SEK 135.4 million in Q3 2023.

• Operating margin for January–September 2024 was -5.4%, compared to 4.0% last year.

• Cash flow from operating activities was SEK -6.6 million, down from SEK 37.4 million year-over-year.

• Equity ratio remained strong at 66.4% (67.0%).

• Earnings per share for the period were SEK -2.52, compared to SEK 1.71 last year.

Outlook and guidance

• Signs of market recovery observed in the latter half of Q3, with expectations for continued improvement.

• Focus remains on meeting customer needs, ensuring long-term profitability, and delivering sustainable solutions.