Kopparbergs (KOBR) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 increased to 651.0 MSEK from 628.2 MSEK year-over-year, driven by higher prices and volumes.

• EBITDA for Q3 was 79.2 MSEK, down from 93.1 MSEK; EPS was 1.30 SEK, compared to 2.00 SEK last year.

• UK market impacted by poor summer weather, leading to lower than expected volumes, but market share maintained.

• Positive development in the partnership with Budweiser Brewing Group for UK distribution.

Financial highlights

• Net sales for Jan–Sep 2024 reached 1,865.6 MSEK, up from 1,791.3 MSEK year-over-year.

• EBITDA for Jan–Sep was 231.3 MSEK, down from 246.5 MSEK; EPS for the period was 6.13 SEK, compared to 6.51 SEK.

• Net income for Jan–Sep was 126.3 MSEK, down from 134.1 MSEK year-over-year.

• Investments totaled 71.2 MSEK for the period, up from 63.4 MSEK last year.

• Cash flow from operations for Jan–Sep was 76.4 MSEK, compared to -18.8 MSEK last year.

Outlook and guidance

• Management remains positive about future prospects, citing strong brand and market position.

• Continued focus on export markets and product innovation, with new cider variety packs performing well.