Medclair (MCLR) Q3 2024 earnings summary

Executive summary

• Focused on sustainable nitrous oxide use, reducing healthcare's carbon footprint, and expanding into recycling and industrial segments.

• Q3 sales impacted by component delivery issues, but order intake remained strong, especially after Spintso divestment.

• Expansion in UK, France, and USA, with new distributor agreements and first order in Germany's recycling sector.

Financial highlights

• Q3 2024 net sales: 3.5 MSEK (vs. 11.0 MSEK Q3 2023); order intake: 11.2 MSEK (vs. 13.0 MSEK).

• Q3 result before depreciation/financials: -1.4 MSEK (2.3 MSEK); net result after tax: -2.8 MSEK (0.6 MSEK); EPS: -0.04 SEK (0.01 SEK).

• Jan–Sep 2024 net sales: 27.8 MSEK (27.9 MSEK); order intake: 40.3 MSEK (36.4 MSEK); net result after tax: 1.0 MSEK (-0.8 MSEK); EPS: 0.01 SEK (-0.01 SEK).

• Sale of Spintso AB contributed 5.4 MSEK to results.

• Cash at period end: 1.9 MSEK (1.3 MSEK); operating cash flow Jan–Sep: -0.7 MSEK (0.4 MSEK).

Outlook and guidance

• Demand driven by climate regulation and sustainability requirements, with strong growth potential in healthcare and recycling.

• Focus on UK, France, and USA for expansion; industrial segment to complement healthcare market.

• Backlog from Q3 production issues may affect Q4 deliveries.