NanoCap Group (NANOC) Q3 2024 earnings summary

Executive summary

• Q3 2024 marked by continued weak market conditions and a marginal decrease in net asset value from 23 to 21 SEK per share, mainly due to negative developments in MOBA and Mediacle holdings.

• Precisionstål showed 9% growth and a positive operating result, with increased order volume indicating promising prospects.

• Focus remains on supporting core holdings for long-term value creation rather than seeking new direct investments.

Financial highlights

• Total Q3 revenue: 7.4 MSEK, up 3% year-over-year; 9M 2024 revenue: 24.8 MSEK, slightly down from 25.5 MSEK in 2023.

• Q3 result after financial items: -16.9 MSEK (vs. -5.9 MSEK in Q3 2023); 9M result: -21.0 MSEK (vs. -47.6 MSEK in 2023).

• Q3 EPS: -2.48 SEK (vs. -1.41 SEK in Q3 2023); 9M EPS: -3.24 SEK (vs. -6.73 SEK in 2023).

• Cash position at period end: 2.3 MSEK (vs. 1.8 MSEK in 2023); equity: 64.8 MSEK (vs. 79.2 MSEK in 2023).

• Negative result mainly due to 15.3 MSEK in write-downs, with 11 MSEK related to B01 Invest.

Outlook and guidance

• Financial targets for 2025 and 2027 remain unchanged: 2025 revenue target for subsidiaries 65–100 MSEK, EBITDA margin 10–15%, and 2027 asset target 850–1250 MSEK.

• Strategy emphasizes long-term support for core holdings to generate stable cash flows and withstand market volatility.