Mavshack (MAV) Q2 2024 earnings summary

Executive summary

• Net sales for Q2 2024 were SEK 2.8M, down from SEK 4.4M in Q2 2023; operating income (EBIT) improved to -SEK 2.5M from -SEK 4.6M.

• EBITDA for Q2 2024 was -SEK 1.2M, compared to -SEK 2.7M in Q2 2023.

• For H1 2024, net sales totaled SEK 5.9M, down from SEK 9.8M in H1 2023; EBIT improved to -SEK 7.1M from -SEK 10.3M.

• Strategic focus on cost savings, divestment of SOIT AB, and a new exclusive five-year film rights license after settling a dispute with Horse Creek Entertainment.

Financial highlights

• Q2 2024 net sales: SEK 2.8M (Q2 2023: SEK 4.4M); H1 2024: SEK 5.9M (H1 2023: SEK 9.8M).

• Q2 2024 EBIT: -SEK 2.5M (Q2 2023: -SEK 4.6M); H1 2024 EBIT: -SEK 7.1M (H1 2023: -SEK 10.3M).

• Q2 2024 EBITDA: -SEK 1.2M (Q2 2023: -SEK 2.7M); H1 2024 EBITDA: -SEK 4.4M (H1 2023: -SEK 6.5M).

• Cash and cash equivalents at period end: SEK 0.1M (Q2 2023: SEK 0.6M).

• Equity at period end: -SEK 13.2M (Q2 2023: -SEK 2.2M); equity ratio: -42.4% (Q2 2023: -6.6%).

Outlook and guidance

• Focus on further developing current business areas through acquisitions and organic growth in 2024/2025.

• Continued consolidation of subsidiaries to reduce administrative costs.

• Ambition to create more partnerships in Sweden and internationally, targeting world-class technology.