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Nischer Properties (NIS) investor relations material

Nischer Properties Q2 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2024 earnings summary30 Aug, 2024

Executive summary

  • Net sales for Q2 2024 increased to 4.0 MSEK from 3.0 MSEK year-over-year; H1 2024 net sales rose to 8.3 MSEK from 4.9 MSEK.

  • EBITDA for Q2 was 0.3 MSEK, up from -3.6 MSEK; H1 EBITDA was 0.7 MSEK, down from 1.2 MSEK.

  • Net loss after tax for Q2 was -12.0 MSEK (improved from -34.9 MSEK); H1 net loss was -17.5 MSEK (improved from -72.9 MSEK).

  • Company is focusing on controlled wind-down, including asset sales and cost reductions, due to challenging market conditions.

  • Announced intent to delist from Nordic SME due to high costs and not meeting spread requirements.

Financial highlights

  • Q2 net sales: 3,997 TSEK (2,955); H1: 8,322 TSEK (4,877).

  • Q2 EBITDA: 259 TSEK (-3,602); H1 EBITDA: 735 TSEK (1,232).

  • Q2 net loss: -12,020 TSEK (-34,947); H1 net loss: -17,521 TSEK (-72,901).

  • Q2 EPS: -0.16 SEK (-0.78); H1 EPS: -0.23 SEK (-1.73).

  • Cash flow from operations for H1: 967 TSEK (-17,561); cash at period end: 1,679 TSEK.

Outlook and guidance

  • Ongoing focus on divesting remaining properties and building rights to optimize wind-down.

  • Will only publish semi-annual financial reports going forward to reduce costs.

  • Continued cost-saving measures, including management and board waiving compensation.

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Frequently asked questions

Nischer Properties is a Swedish real estate company focused on the acquisition, development, and management of residential and commercial properties. The company operates in urban regions, targeting properties with long-term growth and value-creation potential. It manages leasing operations and engages in property refurbishment projects. The company is headquartered in Stockholm, Sweden, and its shares are listed on the NGM.

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