Ilkka (ILKKA2) Q3 2024 earnings summary

Executive summary

• Q3 2024 adjusted operating profit and EPS improved, but revenue declined amid weak market conditions.

• Revenue for Q3 was €12.3m, down 7.7% year-over-year; adjusted operating profit rose to €528k.

• For Jan–Sep 2024, revenue fell 5.6% to €39.6m; adjusted operating profit increased to €425k.

• Net profit for Jan–Sep was €5.1m, up from €4.2m; EPS rose to €0.20 from €0.16.

• Strong financial position with equity ratio at 93.2% and net gearing at -19.2%.

Financial highlights

• Q3 revenue €12.3m (–7.7% y/y); adjusted operating profit €528k (4.3% margin); net profit €603k.

• Jan–Sep revenue €39.6m (–5.6% y/y); adjusted operating profit €425k (1.1% margin); net profit €5.1m.

• Q3 EPS €0.02 (–0.01); Jan–Sep EPS €0.20 (0.16); total EPS including discontinued ops €0.21.

• Net financial items Jan–Sep €6.7m, including €4.0m Alma Media dividends.

• Cash flow from operations Jan–Sep €2.2m; investments –€5.2m, mainly due to earn-out payments.

Outlook and guidance

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

• Uncertainty remains due to geopolitical and economic conditions.

• Alma Media dividends and Hilla Group results have significant impact on group profit.