Cell Impact (CI) Q2 2024 earnings summary

Executive summary

• Net sales for Q2 2024 reached SEK 23.8 million, up 38% year-over-year and 310% sequentially from Q1, driven by new and expanded customer projects, especially with F.C.C. Japan.

• Operating loss (EBIT) improved to SEK -19.6 million from SEK -27.2 million year-over-year, mainly due to cost-reduction measures.

• The company continued to expand its offering, adding sealing to its production process and signing new agreements with European and Japanese partners.

Financial highlights

• Net sales for Q2 2024: SEK 23.8 million (Q2 2023: SEK 17.2 million); H1 2024: SEK 29.6 million (H1 2023: SEK 37.1 million).

• Operating loss (EBIT) for Q2 2024: SEK -19.6 million (Q2 2023: SEK -27.2 million); H1 2024: SEK -41.6 million (H1 2023: SEK -57.0 million).

• Loss after tax for Q2 2024: SEK -20.9 million (Q2 2023: SEK -28.4 million); EPS: SEK -0.04 (Q2 2023: SEK -0.38).

• Cash and cash equivalents at June 30, 2024: SEK 22.6 million (June 30, 2023: SEK 79.5 million).

• Cash flow from operating activities for Q2 2024: SEK -11.2 million (Q2 2023: SEK -24.2 million).

Outlook and guidance

• Sales targets deferred by two years: SEK 200–250 million by 2027 and over SEK 600 million by 2030.

• Medium-term EBITDA margin target remains above 15%; break-even on EBITDA expected in 2025, supported by productivity improvements and cost adjustments.

• Financing is expected to be sufficient into 2025.