Bure (BURE) Q2 2024 earnings summary

Executive summary

• Net asset value (NAV) per share rose 23.9% to SEK 319.6 in H1 2024, and 7.2% sequentially in Q2 2024.

• Group earnings after tax for H1 2024 were SEK 4,754M, up from SEK 3,150M year-over-year.

• Total return on the share was 25.8% in H1 2024, outperforming the SIX Return Index at 10.6%.

• Major portfolio companies reported strong order intake, sales, and profitability improvements.

• NAV per share reached SEK 349.2 by 15 August 2024, up 35.4% since year start.

Financial highlights

• NAV increased to SEK 23,695M from SEK 19,123M at the start of the year.

• Earnings per share for H1 2024 were SEK 64.0, up from SEK 42.4 year-over-year.

• Group equity at period end was SEK 23,702M, with an equity/assets ratio of 100%.

• Cash and cash equivalents stood at SEK 892M at period end.

• Ordinary dividend of SEK 2.5 per share paid, totaling SEK 185.4M.

Outlook and guidance

• Board adjusted Mycronic’s 2024 net sales outlook to SEK 6.5 billion based on strong order intake.

• CEO highlights continued focus on portfolio company performance amid volatile markets.