Saxlund Group (SAXG) Q3 2024 earnings summary

Executive summary

• Achieved positive EBITDA of 5.8 MSEK in Q3 2024, up from 3.1 MSEK year-over-year, despite a challenging market, especially in Germany.

• Net sales for Q3 2024 were 79.7 MSEK, down from 98.1 MSEK, mainly due to lower project activity in Germany.

• Cost adjustments and a strong aftermarket supported profitability amid weak order intake.

• Rights issue completed, raising 65.6 MSEK, improving financial stability.

Financial highlights

• Q3 2024 net sales: 79.7 MSEK (98.1 MSEK Q3 2023); EBITDA: 5.8 MSEK (3.1 MSEK); EBIT: 4.8 MSEK (1.5 MSEK); net income: 2.1 MSEK (-0.3 MSEK); EPS: 0.00 SEK (0.00 SEK).

• 9M 2024 net sales: 228.7 MSEK (240.8 MSEK 9M 2023); EBITDA: -0.7 MSEK (-3.0 MSEK); EBIT: -3.9 MSEK (-6.2 MSEK); net income: -11.1 MSEK (-11.8 MSEK); EPS: -0.02 SEK (-0.02 SEK).

• Cash and cash equivalents at 30 Sep 2024: 25.5 MSEK (3.3 MSEK); equity: 62.1 MSEK (29.6 MSEK).

Outlook and guidance

• Market in Germany remains cautious with delayed large projects; Swedish order book also lower due to selective project intake.

• Strong pipeline offers potential for large orders in coming quarters.

• Focus remains on profitability and risk management, with continued cost adaptation to market conditions.