Digital Network (DIG) Q2 2024 earnings summary

Executive summary

• Revenue for the first half of 2024 reached PLN 28.78 million, up 16.7% year-over-year from PLN 24.67 million.

• Net profit from continuing operations was PLN 9.55 million, a 56% increase compared to PLN 6.12 million in H1 2023.

• Basic EPS rose to PLN 1.99 from PLN 1.31 year-over-year.

• Dividend of PLN 17.08 million (PLN 4.10 per share) was paid in May 2024.

Financial highlights

• Gross profit on sales increased to PLN 14.91 million from PLN 12.59 million year-over-year.

• Operating profit rose to PLN 9.77 million from PLN 7.56 million year-over-year.

• Net financial income was PLN 1.80 million, up from PLN 0.17 million in H1 2023.

• Cash and equivalents at period end were PLN 9.71 million, down from PLN 25.38 million at year-end 2023.

• Equity decreased to PLN 47.43 million from PLN 60.34 million at year-end 2023, mainly due to dividend payout.

Outlook and guidance

• Management expects typical seasonality, with higher sales in the second half of the year, especially Q4.

• The year is anticipated to be stable and predictable in terms of sales cycles.