Ilkka (ILKKA2) Q2 2024 earnings summary

Executive summary

• Revenue declined 4% year-over-year in Q2 2024 to €13.9 million amid weak market conditions, while adjusted operating profit from core operations improved slightly to €29 thousand from a loss of €51 thousand.

• Net profit for Q2 was €3.94 million, down from €4.49 million, with EPS at €0.16 versus €0.18 year-over-year.

• For H1 2024, revenue fell 4.6% to €27.3 million, adjusted operating loss was €103 thousand, and net profit rose slightly to €4.5 million.

• The company maintains a strong financial position with an equity ratio of 91.7% and negative net gearing of -21.7%.

Financial highlights

• Q2 2024 revenue: €13.9 million (Q2 2023: €14.5 million), down 4%.

• Q2 adjusted operating profit: €29 thousand (Q2 2023: -€51 thousand); reported operating loss: €666 thousand.

• Q2 net financial items: €4.75 million, mainly from Alma Media dividends.

• H1 2024 net profit: €4.5 million (H1 2023: €4.4 million); EPS: €0.18 (H1 2023: €0.17).

• Cash flow from operations in H1: €4.56 million; cash and equivalents at period end: €12.9 million.

Outlook and guidance

• 2024 revenue from continuing operations expected to remain flat or decline slightly; adjusted operating profit projected to improve.

• Guidance revised downward for revenue due to updated estimates and the sale of influencer marketing business.