LumenRadio (LUMEN) Q2 2024 earnings summary

Executive summary

• Net sales for Q2 2024 were 64.4 MSEK, up 0.1% year-over-year, signaling recovery after a weak Q1.

• EBIT for Q2 was 7.8 MSEK, down from 15.8 MSEK last year; EBITDA margin was 18.1% versus 28.0%.

• H1 2024 net sales were 110.5 MSEK, a 13.3% decrease year-over-year, with signs of improvement in Q2.

• New sales office opened in Shenzhen, China; new Chief Commercial Officer appointed; CEO transition announced.

Financial highlights

• Q2 net income after tax was 6.3 MSEK, EPS after dilution 0.51 SEK (1.04 SEK last year).

• H1 net income after tax was 8.3 MSEK, EPS after dilution 0.67 SEK (1.99 SEK last year).

• Q2 cash flow was 10.0 MSEK, improved from negative in Q1; cash at period end was 89.1 MSEK.

• Bruttomarginal for Q2 was 60.0% (64.8% last year); H1 bruttomarginal was 60.7% (61.7%).

Outlook and guidance

• Management expects a return to previous sales levels in the film industry by year-end, dependent on OEM production rates.

• Active expansion in HVAC, general lighting, and metering segments, supported by a new distribution strategy.

• Market uncertainty remains, making customer forecasts challenging.