Magle Chemoswed (MAGLE) Q2 2024 earnings summary

Executive summary

• Q2 2024 saw net sales rise to 46.0 MSEK, up 17.2% year-over-year, with EBITDA at 5.3 MSEK, impacted by 3.4 MSEK in acquisition-related costs.

• Strategic mergers with Amniotics and PK Chemicals announced, aiming to expand product offerings and global competitiveness.

• Organic sales growth and continued profitability position the group for long-term expansion.

Financial highlights

• Q2 2024 net sales: 46.0 MSEK (38.1 MSEK Q2 2023); EBITDA: 5.3 MSEK (9.5); EBIT: 1.3 MSEK (6.3); Net profit: 0.2 MSEK (4.7); EPS: SEK 0.0 (0.4).

• H1 2024 net sales: 84.2 MSEK (76.7); EBITDA: 12.4 MSEK (17.1); EBIT: 5.6 MSEK (10.6); Net profit: 3.1 MSEK (7.6); EPS: SEK 0.3 (0.7).

• Q2 DSM-related revenues: 22.0 MSEK (17.6).

• Manufacturing revenues Q2: 17.1 MSEK (13.6); Laboratories: 4.5 MSEK (3.8); Development: 0.5 MSEK (3.5).

Outlook and guidance

• Strategic investments in mergers and DSM market entry expected to drive long-term growth.

• Completion of PK Chemicals and Amniotics acquisitions anticipated in Q3 2024, expected to enhance production capacity and product portfolio.