Motion Display (MODI) Q2 2024 earnings summary

Executive summary

• Achieved another profitable quarter, with net income of 2.43 MSEK for H1 2024, up from -0.28 MSEK year-over-year.

• Revenue for H1 2024 increased by 13% to 17.23 MSEK compared to the same period last year.

• Improved gross margin and diversified geographic sales, with EU accounting for 39% and USA 34% of H1 revenue.

Financial highlights

• H1 2024 net sales: 17.23 MSEK (up 13% YoY); Q2 2024 net sales: 7.37 MSEK (down 3% YoY).

• H1 gross profit (excl. capitalized work): 10.93 MSEK (up 27% YoY); Q2: 4.89 MSEK (up 10% YoY).

• H1 EBITDA: 3.87 MSEK (1.14 MSEK YoY); H1 EBIT: 2.82 MSEK (-0.17 MSEK YoY).

• H1 net income: 2.43 MSEK (-0.28 MSEK YoY); Q2 net income: 0.41 MSEK (0.16 MSEK YoY).

• H1 net cash flow: 3.38 MSEK (1.98 MSEK YoY); cash at period end: 3.48 MSEK (2.09 MSEK YoY).

Outlook and guidance

• Management expects a promising autumn, with continued focus on maintaining short lead times and geographic diversification.

• The company believes it can finance operations for the next 12 months, though external financing is not ruled out.