Nexus (NXU) Q2 2024 earnings summary

Executive summary

• Sales rose 14.1% year-over-year to €127.7m in H1 2024, with strong growth in all key segments and regions.

• EBITDA increased 14.2% to €25.4m, EBIT up 18.2% to €16.4m, and net income up 15.3% to €12.4m compared to H1 2023.

• Major new contracts won in Germany and internationally, including Bundeswehr and University Hospital Jena.

• Integration of recent acquisitions and ongoing innovation in AI and digital healthcare solutions remain strategic priorities.

Financial highlights

• Revenue: €127.7m (+14.1% YoY); EBITDA: €25.4m (+14.2% YoY); EBIT: €16.4m (+18.2% YoY); Net income: €12.4m (+15.3% YoY).

• Domestic sales up 22.5% to €71.4m; international sales up 5.1% to €56.2m.

• Operating cash flow increased 8.4% to €27.6m; liquidity at €108m as of June 30, 2024.

• Earnings per share (undiluted/diluted) rose to €0.72 (+14.3% YoY).

• Share price closed at €54.60 on June 30, 2024.

Outlook and guidance

• Management expects continued sales and market share growth, driven by a strong order backlog and innovation focus.

• Integration of acquisitions and capacity management are key to sustaining growth and meeting project demands.

• The company remains optimistic about further increasing sales and maintaining its innovation trajectory.