Medclair (MCLR) Q2 2024 earnings summary

Executive summary

• Net sales for H1 2024 increased 43% year-over-year to 24.3 Mkr, with strong order intake and improved profitability.

• Result after tax for H1 2024 was 3.8 Mkr, up from -1.4 Mkr in H1 2023, driven by operational improvements and a one-time gain from the Spintso divestment.

• The company completed the sale of Spintso AB, focusing the group on core greentech operations.

• Expansion continued in key markets, with the first US order and new partnerships in recycling and healthcare.

Financial highlights

• Order intake for H1 2024 was 29.1 Mkr, up from 23.4 Mkr year-over-year; Q2 order intake was 11.1 Mkr versus 5.6 Mkr.

• Net sales for H1 2024 reached 24.3 Mkr (17.0 Mkr in H1 2023); Q2 net sales were 12.7 Mkr (5.6 Mkr in Q2 2023).

• EBITDA for H1 2024 was 1.5 Mkr (1.4 Mkr in H1 2023); Q2 EBITDA was 0.2 Mkr (-0.9 Mkr in Q2 2023).

• Net income for H1 2024 was 3.8 Mkr (-1.4 Mkr in H1 2023); Q2 net income was 4.0 Mkr (-2.3 Mkr in Q2 2023).

• Earnings per share for H1 2024 was 0.05 SEK (-0.02 SEK in H1 2023).

Outlook and guidance

• Strong product portfolio and R&D capabilities support continued growth and profitability.

• The company aims to expand in established and new markets, leveraging a growing customer base and robust pipeline.

• Global market potential remains significant, with current revenues representing a small share of the addressable market.