Veteranpoolen (VPAB) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 reached 161.5 MSEK, up 6.7% year-over-year, with a 13.6% operating margin.

• For the first nine months, net sales totaled 433.9 MSEK, a 10.3% increase year-over-year.

• Operating profit for Q3 was 22.0 MSEK; for the nine-month period, 44.3 MSEK.

• Profit after tax for Q3 was 17.5 MSEK; for the nine months, 35.2 MSEK.

• Cash flow from operations after working capital changes was 26.1 MSEK in Q3 and 37.4 MSEK for the nine months.

Financial highlights

• Q3 EPS after dilution was 0.87 SEK; nine-month EPS was 1.76 SEK.

• Cash and cash equivalents at September 30, 2024, were 50.4 MSEK.

• Equity at period end was 53.8 MSEK, with a solidity of 35%.

• Dividend of 2 SEK per share (total 40.0 MSEK) paid in May 2024.

Outlook and guidance

• Continued focus on developing customer relations and recruiting more veterans for part-time work.

• Ongoing international expansion, with Danish subsidiary Seniorstyrken ApS in early stages and low revenue.

• The new 24-month rule for temporary staffing had minimal negative financial impact.