Finepart (FINE) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 increased by 25% year-over-year, driven by higher-priced machine system sales and strong aftermarket demand.

• Cost reduction initiatives led to a 42% decrease in external costs and a 22% drop in personnel expenses compared to Q3 2023.

• Net loss for Q3 2024 was -789 tkr, a significant improvement from -3,251 tkr in Q3 2023.

• Order intake included a Finecut system, cutting assignments, spare parts, and consumables, with an order backlog of approximately 7,000 tkr at quarter-end.

• Liquidity strengthened by a 2 mkr advance received in November for a delivered machine system.

Financial highlights

• Q3 2024 revenue: 6,748 tkr (Q3 2023: 5,371 tkr); 9M 2024 revenue: 15,024 tkr (9M 2023: 16,133 tkr).

• Q3 2024 operating loss: -588 tkr (Q3 2023: -2,942 tkr); 9M 2024 operating loss: -6,845 tkr (9M 2023: -8,556 tkr).

• Q3 2024 net loss: -789 tkr (Q3 2023: -3,251 tkr); 9M 2024 net loss: -7,604 tkr (9M 2023: -8,900 tkr).

• EPS for Q3 2024: -0.02 (Q3 2023: -0.15); 9M 2024: -0.18 (9M 2023: -0.40).

• Cash and cash equivalents at September 30: 1,592 tkr.

Outlook and guidance

• Market activity is increasing due to lower interest rates, with growing interest in both the US and Europe.

• Positive market signals expected to support continued strong development, especially in the US.