Amido (AMIDO) Q2 2024 earnings summary

Executive summary

• Net sales increased 20% to 8.8 MSEK in Q2 2024 and 28% to 17.5 MSEK for H1 2024 year-over-year.

• EBITDA improved to 1.2 MSEK in Q2 2024 from -3.0 MSEK in Q2 2023, and to 2.4 MSEK for H1 2024 from -2.0 MSEK in H1 2023.

• Result before tax was -1.0 MSEK in Q2 2024, a significant improvement from -7.7 MSEK in Q2 2023.

• Cost control and a loyal customer base contributed to positive operational results for the first half of the year.

• Market remains cautious, but stable growth and improved profitability achieved.

Financial highlights

• Q2 2024 revenue: 11.5 MSEK (10.4 MSEK Q2 2023); H1 2024: 22.9 MSEK (19.9 MSEK H1 2023).

• EBITDA margin for Q2 2024 was 14% compared to -41% in Q2 2023.

• Result per share: -0.04 SEK in Q2 2024 vs. -0.29 SEK in Q2 2023; -0.09 SEK for H1 2024 vs. -0.29 SEK H1 2023.

• Cash and equivalents at period end: 8.0 MSEK.

• Cash flow from operations before working capital changes: 1.3 MSEK in Q2 2024 vs. -1.6 MSEK in Q2 2023.

Outlook and guidance

• Continued focus on profitable growth and cost control.

• Indications of increased investment willingness in the market for the remainder of the year due to favorable interest rate trends.

• Partnerships and long-term collaborations with customers and system providers are key to future growth.