Elecster (ELEAV) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 increased by 5.2% year-over-year to €18.5 million; operating profit rose to €1.6 million from €1.4 million.

• Q2 2024 revenue grew 14.2% year-over-year to €10.2 million; operating profit reached €1.0 million, up from €0.7 million.

• Earnings per share improved to €0.36 for H1 2024, compared to -€0.05 in H1 2023.

• Net profit for H1 2024 was €1.3 million, reversing a loss of €0.2 million in the prior year period.

Financial highlights

• H1 2024 operating margin was 8.5%, up from 8.1% in H1 2023.

• Pre-tax profit for H1 2024 was €1.7 million, up from €0.4 million year-over-year.

• Cash and cash equivalents at period end were €9.3 million, slightly down from €9.7 million a year earlier.

• Net gearing improved to 24.1% from 30.2% year-over-year.

• Equity ratio increased to 54.7% from 52.4% year-over-year.

Outlook and guidance

• Full-year revenue expected to remain stable or grow, with EPS forecasted to improve over 2023.

• Machine sales momentum from Q2 anticipated to continue in H2; packaging material volumes expected to stay below prior year.