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Valoe (VALOE) investor relations material

Valoe 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 Sep, 2024

Executive summary

  • Net sales for January–June 2024 were €0.2 million, down 82% year-over-year; EBITDA was €-1.0 million and EBIT €-1.7 million, both improved from prior year.

  • Profit for the period was €-2.0 million, compared to €-3.2 million in H1 2023; equity ratio including capital loans was -47.6%.

  • Restructuring proceedings began in January 2024; a restructuring programme proposal was filed in June but not yet confirmed.

  • Trading in shares has been suspended since December 2023; company reported negative equity and notified the Finnish Trade Register.

  • Operations have been scaled back, with focus on key client relationships in automotive, electronics, and space industries.

Financial highlights

  • Q2 2024 net sales were €0.07 million, EBITDA €-0.5 million, and operating profit €-0.9 million, all improved from Q2 2023.

  • Cash flow from operations in H1 2024 was €-0.6 million, an improvement from €-2.0 million in H1 2023.

  • Liquid assets at end of June 2024 were €0.01 million; equity per share was €-3.6.

  • Research and development costs were €1.1 million, gross investments €7 thousand.

  • Personnel at period end was 42, down from 52 a year earlier.

Outlook and guidance

  • No market guidance for 2024 due to ongoing restructuring.

  • Continuation of operations is uncertain; securing financing is critical for survival.

  • If financing is secured, mass production agreements could be reached within six months.

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Frequently asked questions

Valoe Oyj is a Finnish company focused on solar energy technology. It develops and manufactures photovoltaic (PV) modules and solar cells, with production facilities in Finland and Lithuania. Valoe offers various solar energy solutions, including specialized PV modules and systems, production lines, and components for solar power plants. The company also provides integrated photovoltaic systems for multiple applications. In addition to its solar manufacturing capabilities, Valoe has developed its own production technologies and offers equipment and services to its customers in the solar energy sector. The company is headquartered in Mikkeli, Finland, and its shares are listed on the Helsinki Stock Exchange.

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