Västra Hamnen Corp. Finance (VH) Q2 2024 earnings summary

Executive summary

• Revenue for Q2 2024 was SEK 3.9 million, down 12% year-over-year due to lower commission income.

• Operating result for Q2 was SEK -0.6 million, compared to SEK 0.6 million last year, driven by higher costs and lower income.

• Net result after tax for Q2 was SEK -0.5 million, versus SEK 0.5 million in Q2 2023.

• The company experienced a negative operating margin for the quarter.

• Cash flow was negative, mainly due to a SEK 3 million dividend paid in April 2024.

Financial highlights

• H1 2024 revenue was SEK 8.7 million, down from SEK 10.0 million in H1 2023.

• H1 operating result was SEK -0.3 million, compared to SEK 2.6 million last year.

• H1 net result after tax was SEK -0.3 million, down from SEK 2.1 million in H1 2023.

• Earnings per share for Q2 was SEK -0.51 (Q2 2023: SEK 0.46); H1 was SEK -0.33 (H1 2023: SEK 2.06).

• Equity at June 30, 2024 was SEK 10.5 million (June 30, 2023: SEK 12.6 million).

Outlook and guidance

• Management notes a gradually improving market environment and increased interest in advisory assignments.

• Transaction pipeline remains active, but success fees are only realized upon deal completion, impacting revenue volatility.

• Ambition to grow recurring advisory income going forward.

• M&A deals are progressing, with expectations for closures in H2 2024.