Amnode (AMNO) Q2 2024 earnings summary

Executive summary

• Net sales for Q2 2024 were 17.6 MSEK, down from 20.0 MSEK in Q2 2023; H1 2024 net sales were 38.0 MSEK, down from 41.7 MSEK year-over-year.

• EBITDA for Q2 2024 was 0.8 MSEK (1.2 MSEK in Q2 2023); H1 2024 EBITDA was 2.1 MSEK (1.8 MSEK in H1 2023).

• Operating income for Q2 2024 was 0.1 MSEK (0.5 MSEK in Q2 2023); H1 2024 operating income was 0.9 MSEK (0.5 MSEK in H1 2023).

• Net result after tax for Q2 2024 was -0.4 MSEK; H1 2024 net result was -0.2 MSEK, an improvement from -0.5 MSEK in H1 2023.

• No significant events occurred during or after the quarter.

Financial highlights

• Net sales declined 12% in Q2 2024 year-over-year and 8.8% for H1 2024.

• EBITDA margin for Q2 2024 was 4.7% (6.1% in Q2 2023); H1 2024 EBITDA margin was 5.7% (4.2% in H1 2023).

• Operating margin for Q2 2024 was 0.8% (2.6% in Q2 2023); H1 2024 operating margin was 2.3% (1.2% in H1 2023).

• Cash flow from operations in Q2 2024 was 2.3 MSEK, up from -0.6 MSEK in Q2 2023.

• Net debt decreased to 4.0 MSEK from 6.1 MSEK at year-end 2023.

Outlook and guidance

• Order situation remains stable with a strong market position, especially in new markets such as the power industry.

• Production capacity is being increased to meet demand from the power and defense sectors.

• Liquidity remains tight but adequate; management is actively monitoring cash flow and financing.

• Ongoing investments in machinery and recruitment to support growth in targeted segments.