Amnode (AMNO) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 was 11.5 MSEK, down 34% year-over-year due to the loss of a major customer and production issues in Skultuna.

• EBITDA for Q3 was -3.0 MSEK, with a net loss after tax of -4.1 MSEK and EPS of -1.21 SEK.

• For Jan–Sep 2024, revenue was 55.6 MSEK, EBITDA -0.9 MSEK, net loss after tax -4.3 MSEK, and EPS -1.27 SEK.

• Liquidity remains strained due to operational disruptions and customer loss; management is actively managing cash flow and financing.

Financial highlights

• Q3 2024 revenue: 11.5 MSEK (17.5 MSEK Q3 2023); Jan–Sep 2024: 55.6 MSEK (63.0 MSEK Jan–Sep 2023).

• Q3 EBITDA: -3.0 MSEK (-0.8 MSEK Q3 2023); Jan–Sep EBITDA: -0.9 MSEK (0.9 MSEK Jan–Sep 2023).

• Q3 net loss after tax: -4.1 MSEK (-2.1 MSEK Q3 2023); Jan–Sep net loss: -4.3 MSEK (-2.6 MSEK Jan–Sep 2023).

• Cash flow from operations Q3: -2.4 MSEK; Jan–Sep: -1.0 MSEK.

• Investments in fixed assets YTD: 3.3 MSEK (0.4 MSEK YTD 2023).

Outlook and guidance

• Order intake is stable heading into year-end, with increased inquiries in automotive and strong growth in the power industry segment.

• Management expects improved production stability after equipment repairs and new investments.