Lane Capital (LANE) Q3 2024 earnings summary

Executive summary

• NetJobs Group's operations were divested on June 28, 2024, resulting in no revenue for Q3 2024 compared to 3.8 MSEK in Q3 2023.

• Strategic review ongoing; options include acquiring new businesses or potential liquidation and distribution to shareholders.

Financial highlights

• Q3 2024 net sales were 0.0 MSEK, down from 3.8 MSEK year-over-year; EBITDA was -0.5 MSEK (vs. -0.6 MSEK), and EBIT was -0.5 MSEK (vs. -0.7 MSEK).

• Net income for Q3 2024 was -0.5 MSEK, with EPS at -0.02 SEK, unchanged from Q3 2023.

• For Jan–Sep 2024, net sales fell 30% to 9.3 MSEK; EBITDA rose to 13.3 MSEK (vs. 2.7 MSEK), EBIT to 12.9 MSEK (vs. 2.3 MSEK), and net income to 11.4 MSEK (vs. 2.1 MSEK).

• Cash flow from operations in Q3 2024 was 1.8 MSEK (vs. -2.3 MSEK); for Jan–Sep 2024, it was 0.6 MSEK (vs. 0.9 MSEK).

Outlook and guidance

• The board is evaluating strategic alternatives, including acquisitions or liquidation, with no new investments planned post-divestment.