BoMill (BOMILL) Q2 2024 earnings summary

Executive summary

• Net sales for Q2 2024 increased to KSEK 8,613 from KSEK 5,316 year-over-year, with a net loss after financial items of KSEK -2,150, an improvement from KSEK -2,459.

• Orders received in Q2 reached MSEK 5.5, up from MSEK 1.0, reflecting strong commercial traction.

• A follow-up agreement with Lantmännen Lantbruk worth EUR 475,000 was signed, and the share issue was oversubscribed, raising 16.8 MSEK.

• BoMill InSight™ continues to attract leading multinational grain processors, supporting future growth.

Financial highlights

• Q2 net sales: KSEK 8,613 (Q2 2023: KSEK 5,316); H1 net sales: KSEK 11,667 (H1 2023: KSEK 5,371).

• Q2 net income after financial items: KSEK -2,150 (Q2 2023: KSEK -2,459); H1 net income: KSEK -6,314 (H1 2023: KSEK -8,140).

• Q2 EPS: SEK -0.02 (Q2 2023: SEK -0.05); H1 EPS: SEK -0.06 (H1 2023: SEK -0.17).

• Cash and cash equivalents at June 30, 2024: KSEK 17,470 (June 30, 2023: KSEK 21,629).

• Q2 cash flow: KSEK 13,167 (Q2 2023: KSEK 14,498); H1 cash flow: KSEK 4,949 (H1 2023: KSEK 6,985).

Outlook and guidance

• Board estimates working capital is sufficient for the next twelve months based on current financial position and expected revenues.

• Focus remains on expanding sales and marketing for BoMill InSight™ and deepening collaborations with key industry players.

• Several new projects and events are planned for the second half of 2024.