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Swemet (SWEM) investor relations material

Swemet H1 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2024 earnings summary4 Sep, 2024

Executive summary

  • Revenue for H1 2024 was 27.0 MSEK, slightly down from 27.6 MSEK in H1 2023.

  • Operating income increased to 3.9 MSEK from 3.3 MSEK year-over-year.

  • Net income for the period was 2.7 MSEK, down from 3.5 MSEK in the prior year.

  • Strategic focus shifts to battery solutions, with new exclusive agreements and project pipeline growth.

  • New CEO appointed, and company delisted from Nordic SME in March 2024.

Financial highlights

  • EBITDA for H1 2024 was 4.3 MSEK, up from 3.9 MSEK year-over-year.

  • Earnings per share were 0.24 SEK, compared to 0.23 SEK in H1 2023.

  • Cash flow from operations was -5.3 MSEK, compared to -3.6 MSEK in H1 2023.

  • Cash flow from investing was 6.9 MSEK, up from 2.6 MSEK year-over-year.

  • Cash flow from financing was -1.6 MSEK, compared to -0.1 MSEK in H1 2023.

Outlook and guidance

  • Order book expected to increase significantly in the next six months due to new large inquiries.

  • Focus on battery solutions, both proprietary and imported, with new sales channels and partnerships.

  • Ongoing recruitment to strengthen development and sales for battery storage projects.

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Frequently asked questions

Swemet provides software and hardware solutions in the smart electricity metering segment, with an emphasis on measurement collection and quality assurance. Swemet is the main contact for vendors, network operators and clients who need products and services in these fields. The smart electricity meter is Swemet's special field. This type of meter is not limited to just utility systems, but can be used almost every system that collects and stores data from the power grid or other large-scale networks.

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