Swemet
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Swemet (SWEM) investor relations material

Swemet has been delisted

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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