Gasporox (GPX) Q2 2024 earnings summary

Executive summary

• Achieved record sales in Q2 2024 with net revenue of 9,675 KSEK, a 19% increase year-over-year, and positive operating result and cash flow.

• First half 2024 net revenue reached 18,330 KSEK, up 6% year-over-year, with EBITDA of 2,806 KSEK and operating profit of 237 KSEK.

• Growth driven by strong deliveries to the pharmaceutical sector and expanding product offerings, including new launches for vial inspection and food packaging.

• Awarded a 2.5 MSEK Eurostars grant for the HIGHLIGHT project to develop a new instrument for non-destructive inspection of pharmaceutical tablets.

Financial highlights

• Q2 2024 net revenue: 9,675 KSEK (8,142 KSEK in Q2 2023); operating profit: 12 KSEK (-657 KSEK); cash flow: 254 KSEK (-2,068 KSEK); EPS: -0.01 SEK (-0.10 SEK).

• H1 2024 net revenue: 18,330 KSEK (17,238 KSEK in H1 2023); operating profit: 237 KSEK (1,027 KSEK); EBITDA: 2,806 KSEK (3,082 KSEK); cash flow: 28 KSEK (-2,951 KSEK).

• Cash and cash equivalents at period end: 10,649 KSEK (11,611 KSEK); equity ratio: 54% (59%).

• Investments in Q2: 2,267 KSEK (1,901 KSEK); H1: 4,163 KSEK (3,285 KSEK), mainly for development and patents.

Outlook and guidance

• Continued focus on expanding within pharmaceutical and food industries, with new products and services targeting broader market segments.

• Ongoing geographic expansion and deepening partnerships with resellers and partners to reach new customers and strengthen existing relationships.

• Management expects no additional capital needs for positive cash flow under current growth assumptions.