Abelco Investment Group (ABIG) Q2 2024 earnings summary

Executive summary

• Focused on digital growth sectors, Abelco divested non-strategic subsidiaries and deepened partnerships in gaming and fintech, notably with iCandy and Lemon Sky Studios.

• Strategic initiatives included cost optimization, new collaborations, and investments to strengthen the portfolio and position for future growth.

Financial highlights

• Net revenue for H1 2024 was 1.2 MSEK, down from 2.4 MSEK in H1 2023.

• Net loss for H1 2024 was -23.2 MSEK, similar to -23.0 MSEK in H1 2023.

• Cash flow improved to -0.2 MSEK from -5.3 MSEK in H1 2023.

• Equity per share at period end was 0.020 SEK, down from 0.050 SEK a year earlier.

• Portfolio market value at June 30, 2024, was 93.5 MSEK, with 70% in gaming/digital entertainment and 27% in fintech.

Outlook and guidance

• Ongoing focus on digital products and services, with continued cost reductions and strategic investments to drive growth.

• Expectation of improved profitability in key portfolio companies, especially iCandy and Fatberry.