NanoCap Group (NANOC) Q2 2024 earnings summary

Executive summary

• Total revenue for Q2 2024 increased by 6% year-over-year to 8.8 MSEK, with all growth being organic.

• Net result after financial items improved to -0.8 MSEK from -32.1 MSEK in Q2 2023, reflecting portfolio improvements.

• Substantial value creation in the portfolio, with net asset value per share rising 16.7% during the quarter.

• The parent company reported a positive net result of 2.0 MSEK in Q2 2024, up from -1.4 MSEK in Q2 2023.

• Key portfolio companies such as MOBA, AIXIA, Mediacle, and Pixelfox delivered profitable underlying operations.

Financial highlights

• Q2 2024 revenue: 8.8 MSEK (8.3 MSEK Q2 2023); H1 2024 revenue: 17.5 MSEK (18.3 MSEK H1 2023).

• Q2 2024 net result after financial items: -0.8 MSEK (-32.1 MSEK Q2 2023); H1 2024: -4.1 MSEK (-41.7 MSEK H1 2023).

• Q2 2024 EPS: -0.12 SEK (-3.36 SEK Q2 2023); H1 2024 EPS: -0.72 SEK (-5.32 SEK H1 2023).

• Cash position at period end: 4.7 MSEK (2.2 MSEK Q2 2023); equity ratio: 86.7% (78.1% Q2 2023).

• No long-term debt; short-term liabilities at 12.5 MSEK (11.7 MSEK Q2 2023).

Outlook and guidance

• Management maintains financial targets: 2025 revenue of 65–100 MSEK in subsidiaries and EBITDA margin of 10–15%.

• 2027 asset target: 850–1,250 MSEK.

• Focus remains on profitable growth, operational cash flow, and supporting core holdings.

• Investment activity expected to remain subdued until interest rates decline.