Obducat (OBDU) Q2 2024 earnings summary

Executive summary

• Revenue for Q2 2024 increased to 18.6 MSEK from 12.5 MSEK year-over-year, with order intake rising to 17.7 MSEK from 13.2 MSEK.

• Operating result improved to -0.9 MSEK from -5.4 MSEK in Q2 2023; net result per share remained at -0.02 SEK.

• Order backlog at period end was 118.2 MSEK, down from 133.7 MSEK last year.

• Component delivery delays affected H1 revenue, but improved supply and parallel system builds are expected to boost H2 deliveries.

• Focus remains on innovation, sustainability, and increased market visibility through trade shows and digital channels.

Financial highlights

• Q2 2024 revenue: 18.6 MSEK (12.5 MSEK Q2 2023); H1 2024 revenue: 28.5 MSEK (38.1 MSEK H1 2023).

• Q2 gross margin: 62% (52% Q2 2023); H1 gross margin: 67% (44% H1 2023).

• Q2 operating result: -0.9 MSEK (-5.4 MSEK Q2 2023); H1 operating result: -6.4 MSEK (-6.6 MSEK H1 2023).

• Q2 result before tax: -2.7 MSEK (-3.0 MSEK Q2 2023); H1 result before tax: -7.7 MSEK (-4.2 MSEK H1 2023).

• Q2 cash flow after investments: 0.9 MSEK (-12.9 MSEK Q2 2023); H1: 5.8 MSEK (-11.1 MSEK H1 2023).

Outlook and guidance

• Customer activity increased in Q2, with expectations for higher order intake and revenue in H2 2024.

• Improved component availability and planned deliveries of multiple systems are expected to strengthen liquidity and revenue in H2.

• Continued focus on product innovation, sustainability, and market expansion to drive growth.

• Management expects continued growth in 2024, with higher sales and improved results versus 2023.