Blick Global Group (BLICK) Q2 2024 earnings summary

Executive summary

• Operational activities are currently dormant, resulting in significant cost reductions due to a smaller workforce.

• Strategic review in 2023 led to the sale of Brand Legends, aiming to maximize shareholder value.

• Focus remains on evaluating new business opportunities and long-term value creation.

Financial highlights

• Q2 2024 revenue was 6 KSEK, down from 6,072 KSEK in Q2 2023; H1 2024 revenue was 224 KSEK, down from 13,188 KSEK year-over-year.

• Q2 2024 EBITDA was -496 KSEK (vs. -2,128 KSEK); H1 2024 EBITDA was -709 KSEK (vs. -2,251 KSEK).

• Q2 2024 EBIT was -496 KSEK (vs. -3,298 KSEK); H1 2024 EBIT was -709 KSEK (vs. -4,544 KSEK).

• EPS for Q2 2024 was -0.05 SEK (vs. -0.36 SEK); H1 2024 EPS was -0.07 SEK (vs. -0.60 SEK).

• Cash and cash equivalents at period end were 9,117 KSEK, up from 956 KSEK a year earlier.

Key financial ratios and metrics

• H1 2024 EBITDA margin was -100% (vs. -17%); EBIT margin was -100% (vs. -34%).

• Equity ratio at period end was 63% (vs. 74% year-over-year).

• Equity per share was 0.62 SEK (vs. 8.98 SEK year-over-year).