Moment Group (MOMENT) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 increased to SEK 228 million from SEK 200 million year-over-year, but operating loss widened to SEK -19 million from SEK -8 million due to lower profitability in show and activity venues amid a tough economic climate.

• Accumulated sales for Jan–Sep 2024 reached SEK 735 million (648), with an operating loss of SEK -33 million (-11).

• Event & Communication business area delivered strong results, while summer theatres performed well; show and activity venues continued to face challenges.

• Acquisition of Lorensbergsteatern in Gothenburg announced, with possession from January 2025.

• Decision made to close Hamburger Börs by year-end due to persistent unprofitability and high rent.

Financial highlights

• Q3 net sales: SEK 228 million (200); pro rata sales: SEK 210 million (196).

• Q3 EBITDA: SEK -3 million (8); EBIT: SEK -19 million (-8); net loss after tax: SEK -27 million (-14).

• Earnings per share before/after dilution: SEK -1.05 (-0.59).

• Cash and cash equivalents at period end: SEK 72 million (79); net debt: SEK -589 million (-521).

• Cash flow from operating activities Q3: SEK 13 million (25); investments: SEK 4 million (17).

Outlook and guidance

• Prepaid ticket revenues at period end: SEK 127 million (121), indicating stable forward sales.

• Management remains focused on achieving 2028 targets: SEK 1.3 billion in sales, 8–10% operating margin, and interest coverage ratio ≥5.

• Fourth quarter expected to be seasonally strong, with most earnings generated in Q4.