EcoRub (ECO) Q3 2024 earnings summary

Executive summary

• Strategic focus and strict cost control led to increased net sales, improved operating results, and positive cash flow, with losses reduced significantly year-over-year.

• The Ånäset tire recycling facility is now fully operational, giving EcoRub two production sites in full operation.

• Automated gym and stable mat production set a new record with a 146% increase post-quarter.

Financial highlights

• Net sales for Q3 2024 rose 17.4% year-over-year to 3.39 MSEK.

• EBITDA turned positive at 0.43 MSEK, up 1.09 MSEK from the previous year.

• EBIT loss reduced by 57% to -0.68 MSEK compared to Q3 2023.

• Cash flow from operations improved by 4.91 MSEK to 0.20 MSEK.

• Earnings per share improved to -0.002 SEK from -0.006 SEK year-over-year.

Outlook and guidance

• Stable and positive growth expected to continue, supported by market demand for circular solutions and regulatory drivers.

• Ongoing search for new resellers in Finland, Norway, and Denmark to expand market reach.