Skåne-Möllan (SKMO) Q2 2024 earnings summary

Executive summary

• Net sales for H1 2024 amounted to SEK 130.7 million, down from SEK 134.1 million year-over-year.

• Profit before tax increased to SEK 6.3 million from SEK 5.3 million year-over-year.

• Earnings per share rose to SEK 0.46 from SEK 0.38 year-over-year.

• Export sales grew by over 12% to SEK 13.5 million, driven by niche heat-treated products.

• The quality of incoming grain for the new harvest is reported as good and better than 2023.

Financial highlights

• Operating profit for H1 2024 was SEK 5.2 million, up from SEK 5.0 million year-over-year.

• Financial net improved to SEK 1.1 million from SEK 0.3 million year-over-year, aided by higher interest rates.

• Cash and cash equivalents at period end were SEK 45.8 million, up from SEK 33.5 million year-over-year.

• Net investments for H1 2024 totaled SEK 0.3 million, compared to SEK 1.5 million year-over-year.

• Cash flow from operating activities for H1 2024 was SEK 5.4 million, up from SEK 4.9 million year-over-year.

Segment performance

• Sweden accounted for SEK 117.2 million in net sales and SEK 3.6 million in operating profit for H1 2024.

• Other Europe contributed SEK 13.5 million in net sales and SEK 1.6 million in operating profit for H1 2024.

• Both segments showed slight year-over-year growth in operating profit.