Sustainion (SUSG) Q2 2024 earnings summary

Executive summary

• Strong Q2 performance with revenue up 22.9% year-over-year, offsetting a slow start to the year.

• H1 2024 revenue grew 3.8% to 81,835 TSEK, with EBITDA margin at 14.2%, slightly above long-term target.

• Positive cash flow from operations in H1 at 5,609 TSEK; cash position at period end was 8,467 TSEK.

• Key acquisitions increased ownership in Elpro to 90.5%, with full ownership expected by May 2025.

Financial highlights

• Q2 net sales: 43,575 TSEK (up 22.9% year-over-year); organic growth 19.9%.

• Q2 EBITDA: 9,314 TSEK (21.4% margin); includes 3,879 TSEK gain from revaluation of contingent consideration.

• Q2 EBIT: 5,354 TSEK (12.3% margin); net income: 4,158 TSEK; EPS: 0.02 SEK.

• H1 EBITDA: 11,660 TSEK (14.2% margin); EBIT: 3,758 TSEK (4.6% margin); net income: 1,755 TSEK; EPS: 0.01 SEK.

• Net debt/adjusted EBITDA: 3.8x; equity ratio: 41.1%.

Outlook and guidance

• Management remains focused on developing existing holdings and evaluating new acquisition opportunities.

• No formal forecasts provided; forward-looking statements based on current expectations and market conditions.