Mysafety Group (SAFETY) Q3 2024 earnings summary

Executive summary

• Q3 2024 showed improved results at all levels and increased sales, with a positive operating profit of 3.0 MSEK compared to -1.5 MSEK in Q3 2023.

• Cost-saving initiatives reduced expenses by 15.9 MSEK YTD, progressing toward the annual target of 25–30 MSEK.

• New leadership focused on structure, cost control, and a streamlined product portfolio.

• Several new partnership agreements were signed, boosting new sales from 48.7 MSEK to 55.8 MSEK in the period.

• Cash flow from operations before working capital changes improved by 21.2 MSEK compared to Q1 2024.

Financial highlights

• Q3 net revenue: 78.1 MSEK (77.8 MSEK Q3 2023); YTD: 232.0 MSEK (234.6 MSEK YTD 2023).

• Q3 operating profit (excl. customer contract amortization): 10.1 MSEK (5.6 MSEK Q3 2023); YTD: -0.5 MSEK (85.1 MSEK YTD 2023).

• Q3 operating profit: 3.0 MSEK (-1.5 MSEK Q3 2023); YTD: -21.7 MSEK (63.9 MSEK YTD 2023).

• Q3 net result: -0.3 MSEK (-3.3 MSEK Q3 2023); YTD: -20.6 MSEK (61.5 MSEK YTD 2023).

• Q3 EPS: -0.02 SEK (-0.81 SEK Q3 2023); YTD EPS: -1.27 SEK (8.55 SEK YTD 2023).

Outlook and guidance

• Continued focus on cost savings, insourcing, and new working methods to achieve annual savings target.

• New supplier agreement for invoice management effective November 2025, expected to yield significant cost reductions and support new product delivery.

• Anticipation of further partnership agreements following recent successes in public procurement.