Klimator (KLIMAT) Q3 2024 earnings summary

Executive summary

• Operating revenue grew 16.4% year-over-year in Q3 2024, reaching SEK 6,657K, with significant improvement in operating profit and net income compared to Q3 2023.

• New business agreements, especially with BaneDanmark and Vegvesen, contributed to financial improvements and strengthened presence in the Nordic region.

• First commercial automotive sector agreement signed with Bosch, expanding reach in logistics and transport services.

Financial highlights

• Q3 2024 operating revenue: SEK 6,657K (Q3 2023: SEK 5,720K); net income: SEK -210K (Q3 2023: SEK -4,560K); EPS: SEK -0.01 (Q3 2023: SEK -0.16).

• Nine months 2024 operating revenue: SEK 21,533K (2023: SEK 18,571K); net income: SEK -3,030K (2023: SEK -16,659K); EPS: SEK -0.01 (2023: SEK -0.57).

• Cash flow from operating activities for nine months: SEK -9,017K (2023: SEK -12,591K); cash and cash equivalents at Q3 end: SEK 4,460K.

• Direct costs, external costs, and compensation/benefits all decreased year-over-year in Q3, reflecting cost control measures.

Outlook and guidance

• Focus remains on onboarding new customers, expanding into new markets, and maintaining cost control.

• Confident outlook for continued development in Q4 2024 and into 2025, supported by recent partnerships and product innovation.