Awardit (AWRD) H1 2024 earnings summary

Executive summary

• Net revenue rose 23.1% to SEK 305.1m in Q2 2024, with organic growth at -0.3%; acquisitions, notably IPO, drove growth.

• EBITA reached SEK 14.4m (4.7% margin), up from SEK 14.0m, while net result improved to SEK -1.1m from SEK -7.8m year-over-year.

• Giftcards segment showed strong margin expansion, while Loyalty segment faced margin pressure and negative organic growth.

Financial highlights

• H1 2024 net revenue was SEK 590.7m, up 25.7% year-over-year, with organic growth at -0.4%.

• Adjusted EBITA for Q2 was SEK 14.7m (4.8% margin); H1 adjusted EBITA was SEK 28.4m (5.3% margin).

• Cash flow from operations in Q2 was SEK -4.0m, but SEK 23.0m for H1; cash position at period end was SEK 151.2m.

• Net debt stood at SEK -52.8m, reflecting a net cash position.

• Dividend of SEK 2.30 per share (SEK 19.9m total) paid in May.

Outlook and guidance

• No explicit forward guidance provided; company notes continued focus on cost control and integration of acquisitions.