Siljansvik (SIVI) Q2 2024 earnings summary

Executive summary

• Net sales increased to 196,535 tkr from 185,497 tkr year-over-year, with after-tax profit at 36,253 tkr, down from 41,694 tkr.

• The period was marked by significant transformation, including new business models and regulatory changes impacting results.

• One-time costs related to restructuring and a failed public takeover bid by Ellevio negatively affected operating profit by about 12 mkr.

Financial highlights

• Operating profit reached 49,191 tkr, down from 53,206 tkr year-over-year.

• Earnings per share were 1.46 kr, compared to 1.68 kr last year.

• EBITDA for the group was 68,828 tkr, nearly flat year-over-year.

• Return on total capital was 3%, and return on equity was 4%.

• Cash flow from operations was 104,834 tkr for the first half, with investments totaling 85,096 tkr.

Outlook and guidance

• Regulatory changes are expected to provide a 57% higher revenue cap for 2024–2027, supporting continued investments.

• Price adjustments for electricity network customers are expected to average 2–6% per year, plus inflation.

• The company anticipates positive effects from new fiber network business models starting Q3.