Lundbergföretagen (LUND) Q2 2024 earnings summary

Executive summary

• Net asset value after deferred tax rose to SEK 138.5 billion (SEK 558/share) as of June 30, 2024, and SEK 143.8 billion (SEK 580/share) by August 23, 2024, up from SEK 135.1 billion (SEK 545/share) at year-end 2023.

• Consolidated net sales for January–June 2024 were SEK 15,570 million, up from SEK 15,279 million year-over-year.

• Profit after financial items reached SEK 5,343 million (SEK 4,967 million last year); profit after tax was SEK 4,742 million (SEK 4,635 million last year).

• Earnings per share attributable to parent shareholders were SEK 15.91 (SEK 15.59 last year).

Financial highlights

• Operating profit for the group was SEK 5,602 million (SEK 5,168 million last year).

• Adjusted profit after financial items (excluding unrealized changes in value) was SEK 6,228 million (SEK 7,793 million last year).

• Group shareholders’ equity increased to SEK 161,862 million (SEK 160,332 million at year-end 2023).

• Interest-bearing net debt increased to SEK 18,766 million (SEK 17,825 million at year-end 2023).

• Cash and interest-bearing assets at the parent and wholly owned subsidiaries were SEK 926 million (SEK 445 million at year-end 2023).

Outlook and guidance

• No explicit forward-looking guidance provided; management reiterates that risks and uncertainties remain as described in the 2023 annual report.