LumenRadio (LUMEN) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 were 65.9 MSEK, down 5% year-over-year, but the second-best quarter to date.

• EBIT for Q3 was 14.0 MSEK, EBITDA 17.8 MSEK with a 27.0% margin, both lower than last year.

• Cash flow improved to 8.4 MSEK in Q3, and cash at period end was 97.5 MSEK.

• Hans Larsson appointed as new CEO in August.

• A directed issue of up to 125,000 options for an incentive program was approved.

Financial highlights

• Q3 net sales: 65.9 MSEK (69.4), EBIT: 14.0 MSEK (24.0), EBITDA: 17.8 MSEK (26.2), EPS after dilution: 0.82 SEK (1.48).

• Jan–Sep net sales: 176.4 MSEK (196.9), EBIT: 22.9 MSEK (55.3), EBITDA: 34.1 MSEK (61.7), EPS after dilution: 1.49 SEK (3.46).

• Gross margin Q3: 61.9% (65.5%), Jan–Sep: 61.1% (63.1%).

• Cash flow for Jan–Sep: 13.1 MSEK (–19.7).

• Inventory reduced to 20.6 MSEK from 26.6 MSEK year-over-year.

Outlook and guidance

• Sequential improvement expected in both business areas.

• Growth prioritized, with continued investment in market strategy and product development.

• Long-term targets: >25% annual organic growth and >20% EBITDA margin over a business cycle.