Precio Fishbone (PRCO) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 were SEK 34.8m, down 22.5% year-over-year; for Jan–Sep 2024, SEK 127.3m, down 18.9% year-over-year.

• EBITA for Q3 2024 was SEK 0.5m (1.5% margin), sharply down from SEK 6.7m (15.0%) last year; Jan–Sep EBITA was SEK 8.3m (6.5% margin), up from SEK 6.2m (3.9%).

• Net income for Q3 2024 was SEK 0.02m; Jan–Sep 2024 net income was SEK 6.4m, up from SEK 3.6m.

• Cash flow from operations was negative in Q3 at SEK -0.6m, but positive for Jan–Sep at SEK 10.3m.

• Ordinary dividend of SEK 1.30 per share and extra dividend of SEK 8.70 per share paid.

Financial highlights

• Q3 2024 EPS was SEK 0.00 (Q3 2023: SEK 0.45); Jan–Sep 2024 EPS was SEK 0.70 (Jan–Sep 2023: SEK 0.30).

• Total cash at 30 Sep 2024 was SEK 14.0m, down from SEK 167.4m at year start, mainly due to dividend payments.

• Equity at 30 Sep 2024 was SEK 157.3m (75% equity ratio), down from SEK 278.9m (82%) at year start.

• Investments in Q3 2024 were SEK 0.1m; Jan–Sep 2024 investments totaled SEK 1.6m.

Outlook and guidance

• Market for system development projects remains slow, with low utilization and high price competition.

• Some recovery in public sector demand and new framework agreements signed, but overall cautious outlook.

• SaaS segment, especially NGOonline, shows positive sales momentum and plans for expansion.

• Cautiously optimistic for 2025, with focus on qualifying business opportunities and expanding SaaS delivery.