Tura Group (TURA) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 decreased by 4.4% year-over-year to 201.4 MSEK, with a gross margin of 18.3% (down from 19.8%).

• EBITDA for Q3 was 9.4 MSEK (13.0 MSEK last year), with an EBITDA margin of 4.7% (6.2%).

• For the first nine months, net sales declined 7.2% to 590.1 MSEK, and EBITDA dropped to 13.6 MSEK (32.9 MSEK), with a margin of 2.3% (5.2%).

• Net result for Q3 was 2.6 MSEK (5.1 MSEK), and for the nine months -3.2 MSEK (12.5 MSEK).

• The company faced challenging market conditions, with some recovery in Q3 compared to earlier in the year.

Financial highlights

• Q3 operating cash flow improved to 13.2 MSEK (-11.6 MSEK last year); nine-month operating cash flow was -1.0 MSEK (44.9 MSEK).

• Equity at September 30, 2024, was 264.1 MSEK (273.1 MSEK), with a solid equity ratio of 52.0% (48.6%).

• Liquidity including unused credit lines was 106.0 MSEK (90.2 MSEK).

• Earnings per share for Q3 were 0.05 SEK (0.10 SEK); for nine months, -0.06 SEK (0.25 SEK).

• Räntebärande skulder decreased by 30.4 MSEK during the nine months.

Outlook and guidance

• The company targets 10–15% annual growth, both organically and via acquisitions.

• Financial goal is an average EBITDA margin of about 8% through scale and productivity improvements.

• Own brands are expected to support margin expansion, though they require higher operating costs.