Jetpak Top (JETPAK) Q3 2024 earnings summary

Executive summary

• Revenue grew 11.3% year-over-year in Q3 2024, mainly from acquisitions and Air segment growth in Norway.

• Operating profit and margins improved compared to both the previous quarter and last year.

• The board recommended shareholders accept increased public offers; delisting from Nasdaq First North is expected by year-end.

Financial highlights

• Q3 net revenue: 308,858 TSEK (+11.7% YoY); 9M net revenue: 928,269 TSEK (+6.0% YoY).

• Q3 adjusted EBITA: 28,049 TSEK (9.0% margin); 9M adjusted EBITA: 84,320 TSEK (9.0% margin).

• Q3 net income: 19,013 TSEK; 9M net income: 55,191 TSEK.

• Cash flow from operations: 24,999 TSEK in Q3; 32,252 TSEK for 9M.

• Cash and cash equivalents: 198,192 TSEK at period end.

Outlook and guidance

• Modest market recovery expected from end of 2024; long-term focus on organic growth and improved adjusted EBITA.

• Continued emphasis on cost efficiency, digitalization, and ESG initiatives.