Calviks (CALVIK) Q2 2024 earnings summary

Executive summary

• Achieved strong growth in Q2 2024, with net sales up 482% year-over-year to 111,516 TSEK and operating profit up 124% to 5,273 TSEK, driven by both acquisitions and 28% organic growth.

• Integration of recent acquisitions and reorganization into three business areas (Recruitment & Interim, Consultants, Staffing) to enhance synergies and clarify offerings.

• Proforma figures for H1 2024 show net sales of 202,871 TSEK (+472%) and operating profit of 13,184 TSEK (+121%) compared to H1 2023.

Financial highlights

• Q2 2024 net sales: 111,516 TSEK (19,146), EBITDA: 6,527 TSEK (2,831), operating profit: 5,273 TSEK (2,350), net income: 2,938 TSEK (1,278), EPS: 0.57 SEK (0.35).

• H1 2024 net sales: 179,219 TSEK (35,475), EBITDA: 14,230 TSEK (6,936), operating profit: 12,099 TSEK (5,956), net income: 7,667 TSEK (3,832), EPS: 1.58 SEK (1.06).

• Cash flow from operations in Q2: 970 TSEK (1,605); H1: -6,901 TSEK (1,699).

• Cash and equivalents at period end: 15,780 TSEK (9,795).

Outlook and guidance

• Expects continued positive development in sales and profit for H2 2024, supported by a strong market and ongoing integration of acquisitions.

• On track toward 2026 financial targets: 1 billion SEK in sales and 100 million SEK EBIT.