Hunter Capital (HUNTER) Q2 2024 earnings summary

Executive summary

• Net sales for Q2 2024 reached 6.8 MSEK, up from 3.9 MSEK year-over-year; six-month sales totaled 12.2 MSEK versus 5.3 MSEK last year.

• Result after financial items for Q2 was 6.7 MSEK, a significant increase from 0.9 MSEK in Q2 2023.

• The company is transitioning to a single-entity structure following the decision to liquidate Electronordic AB after the quarter.

• The only unlisted holding, Petbuddy Group, completed an acquisition and a rights issue, with Hunter Capital maintaining its pro rata share.

Financial highlights

• EBITDA for Q2 was -298 TSEK, down from 84 TSEK in Q2 2023; six-month EBITDA was -442 TSEK, improved from -705 TSEK year-over-year.

• Earnings per share for Q2 rose to 1.90 SEK from 0.02 SEK last year; six-month EPS was 1.84 SEK compared to -0.03 SEK.

• Goodwill amortization totaled 1.9 MSEK for the first half of 2024.

• Cash and cash equivalents at June 30, 2024, were 2.2 MSEK; equity stood at 24 MSEK.

• Short-term liabilities amounted to 2.9 MSEK, mainly VAT, tax liabilities, and accounts payable.

Outlook and guidance

• Management expects further value realization in the remainder of 2024 and into early 2025.

• The liquidation of Electronordic is anticipated to simplify the balance sheet and income statement, providing a clearer financial picture going forward.