Skako (SKAKO) investor relations material

Executive summary

• Revenue grew 13% year-over-year to DKK 139 million, driven by large mineral segment projects, especially OCP in Morocco, despite subdued fastener markets in Northern Europe.

• EBIT before special items declined 34% to DKK 6.7 million due to lower margins, delayed OCP project start, and increased capacity costs.

• Order backlog reached a record DKK 190 million, up 215%, mainly from OCP and growth in other business areas, supporting confidence in full-year guidance.

• Net profit dropped to DKK 0.8 million from DKK 6.0 million, impacted by lower operating profit and discontinued activities.

• Fastener segment underperformed, while recycling showed sequential improvement in Q2 but declined year-over-year.

Financial highlights

• Gross profit increased 3.8% to DKK 36.3 million, but gross margin fell by 2.2 percentage points to 26.1% due to higher plant sales mix and lower-margin projects.

• EBIT margin before special items decreased to 4.8% from 8.2% year-over-year.

• Cash flow from operating activities was positive DKK 27 million, reversing a negative DKK 23 million last year, with free cash flow at DKK 23.7 million.

• Net debt reduced to DKK 21.5 million, with net debt/EBITDA at 0.5, well below the target of 2.5.

• Aftersales revenue declined 5.2% to DKK 35 million.

Outlook and guidance

• Full-year guidance maintained: revenue growth of 30–40% and operating profit before special items of DKK 27–31 million.

• Significant growth and earnings required in H2 to meet guidance, but management remains confident due to strong backlog and OCP ramp-up.

• Guidance subject to higher uncertainty from geopolitical and market conditions in Europe, and timing of OCP deliveries.