Seco/Warwick (SWG) Q3 2024 earnings summary

Executive summary

• Consolidated sales for the first nine months of 2024 reached PLN 533 million, up 6.3% year-over-year, with a lower gross margin of 19.7% compared to 22.7% in the prior year.

• Net profit attributable to shareholders was PLN 13.1 million, a decrease of 34.9% year-over-year.

• EBITDA for the period was PLN 31.7 million, down 23.3% from the same period in 2023.

• The order backlog at the end of September 2024 stood at PLN 694.9 million.

Financial highlights

• Revenue for Q1–Q3 2024: PLN 533.4 million (up from PLN 502.0 million year-over-year).

• Gross profit: PLN 105.0 million (down from PLN 114.1 million year-over-year).

• Operating profit: PLN 18.4 million (down from PLN 28.8 million year-over-year).

• Net profit attributable to shareholders: PLN 13.1 million (down from PLN 20.2 million year-over-year).

• Net cash from operating activities: PLN 33.5 million (up from PLN 2.9 million year-over-year).

• Net cash from investing activities: PLN -34.4 million (down from PLN -18.7 million year-over-year).

• Net cash from financing activities: PLN 21.1 million (up from PLN -1.2 million year-over-year).

Segment performance

• Aftersales services saw the highest sales growth at 27% year-over-year.

• Melting Furnaces segment sales increased by 14% year-over-year.

• Vacuum Furnaces and Aluminium Process segments recorded sales declines of 9% and 5%, respectively.

• Aftersales achieved the highest gross margin at 32.7%, followed by Vacuum Furnaces at 22.4% and Aluminium Process at 22.7%.