Unlimited Travel Group UTG (UTG) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 increased by 3.1% year-over-year to SEK 188.0m, driven by acquired growth and strong demand, especially in private travel and new segments.

• EBITA for Q3 2024 rose to SEK 7.0m from SEK 5.9m, with improved results attributed to investments in personnel, IT, and marketing.

• Booking position for the full year 2024 as of September 30 reached SEK 777m, up from SEK 685m, with Q4 bookings 32% higher than the previous year.

• Strategic focus on premium experiences, B2B events, and continued acquisition activity to strengthen the portfolio.

Financial highlights

• Q3 2024 revenue: SEK 188.0m (181.6m Q3 2023); gross margin: 22.3% (22.8%).

• EBITA Q3 2024: SEK 7.0m (5.9m); EBITA margin: 3.7% (3.2%).

• January–September 2024 revenue: SEK 517.6m (477.9m); gross margin: 21.6% (22.1%).

• EBITA January–September: SEK 4.4m (7.1m); net result: SEK 2.2m (4.4m).

• Earnings per share Q3: SEK 0.48 (0.42); YTD: SEK 0.00 (0.22).

• Cash flow from operations January–September: SEK 111.1m (19.6m Dec 2023).

• Net cash at period end: SEK 107.2m (22.0m Dec 2023); equity ratio: 5.9% (11.0%).

Outlook and guidance

• Q4 2024 bookings are 32% higher than the same period last year, indicating a strong finish to the year.

• Full-year result expected to surpass previous year, supported by robust booking trends and improved operational cash flow.

• Booking position for 2025 is currently 33% above last year, driven by both private and corporate demand.

• Anticipated economic recovery in Sweden and increased disposable income expected to boost travel demand in 2025.