Moment Group (MOMENT) Q2 2024 earnings summary

Executive summary

• Net sales increased to SEK 211 million in Q2 2024 from SEK 198 million in Q2 2023, but profitability declined, with an operating loss of SEK -16 million compared to SEK -13 million last year.

• Event & Communication delivered strong earnings, offsetting weaker performance in show and activity venues affected by the economic climate.

• Investments continued in digitalization, sustainability, and business development, with new concepts like SLICE expanding.

• Liquidity at period end was SEK 60 million, with negative cash flow from operations due to higher capital tied up and seasonal ticket liability payments.

• A bridging loan was secured post-period to support major customer projects in autumn.

Financial highlights

• Q2 2024 net sales: SEK 211 million (Q2 2023: SEK 198 million); H1 2024: SEK 507 million (H1 2023: SEK 448 million).

• Q2 2024 EBITDA: SEK 3 million (Q2 2023: SEK 3 million); EBIT: SEK -16 million (Q2 2023: SEK -13 million).

• Earnings per share before/after dilution: SEK -0.21 (Q2 2023: SEK -0.82).

• Operating margin Q2 2024: -8% (Q2 2023: -6%).

• Cash flow from operating activities Q2 2024: SEK -39 million (Q2 2023: SEK -21 million).

Outlook and guidance

• Prepaid ticket revenues at period end were SEK 78 million, indicating a solid sales position for upcoming periods, though affected by year-on-year production portfolio differences.

• Management continues to focus on long-term development, digitalization, and sustainability to maintain relevance and growth.

• Financial targets for 2028 include SEK 1.3 billion in pro rata sales and an 8-10% operating margin over the cycle.