MTI Investment (MTI) H1 2024 earnings summary

Executive summary

• Group revenue declined 46% year-over-year to EUR 57,064, mainly due to lower Ecohomes revenue as focus shifted to profitability.

• Net loss narrowed to EUR -746,234 from EUR -795,139 in H1 2023, driven by cost reductions at Ecohomes.

• Strategic investments in cash-generating assets, especially in financial services and agri-tech, are prioritized for sustainable growth.

• Portfolio companies like Mtaji, AML Finance, Tanswed, Shambani Milk, Chanzi, and Techbridge showed operational progress and market expansion.

• Transitioned from a European company to a Swedish public limited company and increased reporting alignment with core investor base.

Financial highlights

• EBITDA improved to EUR -549,780 from EUR -613,793, reflecting a 10% reduction in losses.

• Net cash flow for H1 2024 was EUR -216,198, compared to EUR 157,336 in H1 2023.

• Total equity at period end was EUR 1,349,235, down from EUR 1,691,030 a year earlier.

• Cash and cash equivalents stood at EUR 508,811 as of June 30, 2024.

• Estimated net asset value per share was EUR 0.25 (SEK 2.87) with 16,666,614 shares outstanding.

Outlook and guidance

• Focus remains on cash-flow-positive investments and scaling high-performing holdings.

• Strategic review ongoing for underperforming assets like Ecohomes and Sunergetics.

• Reporting currency to shift to SEK from next year to better align with investor base.