Acuvi (ACUVI) Q3 2024 earnings summary

Executive summary

• Q3 2024 net sales reached 44 MSEK, down 3% year-over-year, with stable EBITDA and EBIT margins at 18% and 12% respectively.

• Nine-month net sales totaled 135 MSEK, slightly below last year, with EBITDA at 28 MSEK (21% margin) and EBIT at 19 MSEK (14% margin).

• Transitioned to IFRS reporting in Q3, enhancing transparency and comparability.

• Positive operating cash flow and strengthened balance sheet following two share issues totaling 51 MSEK, adding 46 MSEK in liquidity.

Financial highlights

• Q3 net sales: 44 MSEK (45 MSEK in Q3 2023); EBITDA: 8 MSEK (8 MSEK); EBIT: 5 MSEK (5 MSEK).

• Nine-month net sales: 135 MSEK (137 MSEK); EBITDA: 28 MSEK (33 MSEK); EBIT: 19 MSEK (25 MSEK).

• Q3 gross margin improved to 58% (from 52%), mainly due to favorable product mix.

• Q3 net result: -4.4 MSEK (13.8 MSEK), impacted by negative financial items, especially currency effects.

• EPS for Q3: -0.15 SEK (0.54 SEK); nine months: 0.46 SEK (1.24 SEK).

Outlook and guidance

• Management expects full-year 2024 net sales to exceed 190 MSEK and EBITDA to approach 40 MSEK, excluding last year’s one-off royalty/licensing income.

• Target to reach 25% EBITDA margin in coming years remains unchanged.