Hulström Group (HULT) Q3 2024 earnings summary

Executive summary

• Organic growth of 6% in Q3, with net sales rising to 68.4 MSEK from 64.5 MSEK year-over-year.

• EBIT margin improved to 3.8% in Q3 (1.7% last year), and 7.2% for the nine months (4.5%).

• Profit after financial items reached 1.8 MSEK in Q3 (0.3 MSEK last year) and 15.5 MSEK for the nine months (8.1 MSEK).

• Company continues transformation to a high-performing consulting organization, implementing a new digital platform.

• No significant post-period events reported.

Financial highlights

• Q3 net sales: 68.4 MSEK (up 6.1% year-over-year); EBIT: 2.6 MSEK (1.1 MSEK); EBIT margin: 3.8% (1.7%).

• Nine months net sales: 239.0 MSEK (222.0 MSEK); EBIT: 17.1 MSEK (9.9 MSEK); EBIT margin: 7.2% (4.5%).

• EPS for Q3: 0.03 SEK (0.03 SEK); nine months: 0.25 SEK (0.13 SEK).

• Cash flow from operations Q3: -5.3 MSEK (-7.2 MSEK); nine months: 3.0 MSEK (3.7 MSEK).

• Negative currency effects of -1.7 MSEK impacted Q3 EBIT; adjusted EBIT margin was 6.3%.

Outlook and guidance

• Targeting sustainable EBIT margin above 10% as part of ongoing transformation.

• Market remains cautious, with continued focus on helping clients navigate change and identify opportunities.