Siljansvik (SIVI) Q3 2024 earnings summary

Executive summary

• Entered strategic partnership with Nordion Energi, selling 51% of a new company containing electricity, fiber, and infrastructure services, pending shareholder approval.

• Partnership aims to secure long-term growth, strengthen competitiveness, and maintain local influence.

• Ongoing transformation includes a voluntary redemption program for shareholders and a focus on sustainable, competitive business models.

• Operational performance remained stable despite market changes and restructuring costs.

Financial highlights

• Net sales for Jan–Sept 2024: 286,879 tkr (264,878 tkr in 2023); operating profit: 57,396 tkr (76,551 tkr); net income: 40,081 tkr (58,807 tkr).

• Earnings per share: 1.62 kr (2.37 kr); return on total capital: 4% (5%); return on equity: 5% (7%).

• Interest in associates contributed 9,000 tkr (14,468 tkr).

• EBITDA for Jan–Sept 2024: 91,856 tkr (101,101 tkr); operating cash flow: -26,322 tkr (14,981 tkr).

Outlook and guidance

• Partnership with Nordion Energi expected to provide a sustainable platform for growth and digitalization.

• Anticipated price adjustments in electricity network fees to offset increased non-controllable costs.

• Investments in the electricity grid planned to exceed half a billion SEK over the next four years.