Mantex (Mantex) Q2 2024 earnings summary

Executive summary

• Revenue for Q2 2024 was 433 tkr, down from 711 tkr in Q2 2023, mainly from consulting services.

• EBIT for Q2 2024 was -6,822 tkr, a larger loss than -4,984 tkr in Q2 2023.

• Cash flow from operations in Q2 2024 was -7,108 tkr, compared to -5,349 tkr in Q2 2023.

• The FlowScanner FS3000 was delivered to a second customer, highlighting Mantex's position in X-ray technology.

• Focus is shifting back to the Biomass Analyzer product after completing FS3000 development.

Financial highlights

• H1 2024 revenue was 1,891 tkr, up from 1,251 tkr in H1 2023.

• EBIT for H1 2024 was -11,140 tkr, compared to -9,175 tkr in H1 2023.

• Cash flow from operations for H1 2024 was -11,868 tkr, similar to -11,059 tkr in H1 2023.

• No investments in Q2; H1 investments of -4,361 tkr were for a shareholder contribution to Andritz Technologies AB.

• Financing cash flow in H1 2024 was 5,000 tkr from a loan by the largest shareholder.

Outlook and guidance

• With FS3000 completed, increased focus will be placed on further developing and commercializing the Biomass Analyzer.

• Ongoing efforts to obtain sales licenses for the Biomass Analyzer in Finland.