Bredband2 i Skandinavien (BRE2) Q3 2024 earnings summary

Executive summary

• Net sales for Jan–Sep 2024 reached SEK 1,282.7m, up 9.0% year-over-year; Q3 growth was 9.4%.

• EBIT for the nine months was SEK 109.2m, a 29.9% increase compared to the same period last year.

• Integration of Bredbandsson AB, acquired in September, was completed within a month and contributed positively to results.

• Customer base grew to approximately 512,500 broadband customers, up from 453,200 a year earlier.

• Dividend per share increased to SEK 0.09, totaling SEK 86.1m distributed in 2024.

Financial highlights

• Q3 net sales: SEK 438.3m (SEK 400.6m in Q3 2023); Q3 EBIT: SEK 39.1m (SEK 33.0m); Q3 net income: SEK 30.6m (SEK 23.5m).

• Jan–Sep EBITDA: SEK 213.6m (SEK 191.4m); EBITA: SEK 131.6m (SEK 109.1m); EBT: SEK 100.4m (SEK 74.8m); net income: SEK 79.7m (SEK 59.5m).

• Earnings per share for Jan–Sep: SEK 0.083 (SEK 0.062); Q3: SEK 0.032 (SEK 0.025).

• Cash flow from operations before working capital changes: SEK 183.5m; after changes: SEK 201.3m.

• Cash position at period end: SEK 114.7m; interest-bearing loans: SEK 40.0m; equity: SEK 528.5m; equity ratio: 40%.

Outlook and guidance

• Focus remains on organic growth and strategic acquisitions, with continued margin improvements and increased sales.

• Integration of Bredbandsson AB expected to further strengthen results; intensified efforts to expand both private and business segments.

• Ongoing investments in infrastructure, product portfolio expansion, and digitalization to support long-term competitiveness.

• Continued emphasis on cost control and margin improvement, with growth targeted especially in the business segment.