Traction (TRAC) Q2 2024 earnings summary

Executive summary

• Net income for Q2 2024 was 216 Mkr, up from -26 Mkr in Q2 2023; H1 2024 net income was 344 Mkr, up from 185 Mkr year-over-year.

• Earnings per share for Q2 was 14.57 kr (vs. -1.78 kr), and for H1 was 23.23 kr (vs. 12.49 kr).

• Net asset value (NAV) per share increased 6% in Q2 and 9% in H1, adjusted for dividends.

• Value change in listed holdings after Q2 amounted to 75 Mkr as of July 12, 2024.

Financial highlights

• Q2 result after tax: 216 Mkr (Q2 2023: -26 Mkr); H1 result after tax: 344 Mkr (H1 2023: 185 Mkr).

• Q2 value changes: 150 Mkr (Q2 2023: -113 Mkr); H1 value changes: 241 Mkr (H1 2023: 74 Mkr).

• Q2 dividends received: 53 Mkr (Q2 2023: 72 Mkr); H1 dividends: 74 Mkr (H1 2023: 85 Mkr).

• NAV per share at June 30, 2024: 278 kr (June 30, 2023: 265 kr).

• Cash and cash equivalents at period end: 381 Mkr (June 30, 2023: 309 Mkr).

Outlook and guidance

• No material new risks identified; risk profile remains consistent with previous disclosures.

• Value change in listed holdings post-Q2 is positive, with OEM International, Softronic, and Hifab Group as main contributors.