BrandBee (BRANDB) Q2 2024 earnings summary

Executive summary

• Achieved a profit after financial items of 0.95 MSEK in Q2 2024, a significant turnaround from -4.1 MSEK in Q2 2023, driven by successful investments and operational improvements.

• Completed profitable investment in NBX and acquired 85% of Holmasjön Prospektering AB, with a subsequent agreement to sell Holmasjön expected to positively impact Q3 results.

• Renewed a major three-year customer contract in Anegy worth 15 MSEK, providing a stable base for future growth.

Financial highlights

• Q2 2024 net revenue was 2.2 MSEK, down from 3.5 MSEK in Q2 2023, mainly due to divested operations.

• EBITDA improved to -0.9 MSEK from -2.0 MSEK year-over-year; EBIT improved to -1.5 MSEK from -4.1 MSEK.

• Net result after financial items was 0.95 MSEK, up from -4.1 MSEK in Q2 2023; EPS at 0.00 SEK (vs. -0.02 SEK).

• For H1 2024, net revenue was 5.4 MSEK (6.1 MSEK in H1 2023); EBITDA -2.5 MSEK (-3.8 MSEK), EBIT -4.6 MSEK (-8.0 MSEK), net result -1.7 MSEK (-8.2 MSEK).

• Parent company Q2 net revenue was 0.2 MSEK (0.8 MSEK), with a net loss of -1.6 MSEK (-0.4 MSEK).

Outlook and guidance

• Sale of Holmasjön Prospektering AB to Nidhogg Resources is expected to strengthen the balance sheet and positively affect Q3 results.

• Focus remains on expanding Anegy's digital consulting business and seeking new investment opportunities.