NOSIUM (NOSIUM ) Q2 2024 earnings summary

Executive summary

• Revenue declined sharply both in Q2 and H1 2024, with cost reductions underway and further asset divestments planned to strengthen financials and focus the portfolio.

• New CEO Jesper Yrwing appointed, with additional capital injections from directed share issues to support liquidity and growth initiatives.

Financial highlights

• Q2 2024 group revenue was 2,168 TKR, down 63% year-over-year; H1 revenue was 4,382 TKR, down 56%.

• Q2 group operating loss was -2,063 TKR (vs. -359 TKR); H1 operating loss was -4,422 TKR (vs. -2,791 TKR).

• Q2 net loss attributable to parent shareholders was -2,870 TKR (vs. -6,308 TKR); H1 net loss was -6,719 TKR (vs. -8,041 TKR).

• Q2 operating cash flow was -3,875 TKR (vs. -1,227 TKR); H1 operating cash flow was -6,024 TKR (vs. -3,869 TKR).

• Group equity ratio improved to 82% (from 58% a year ago).

Outlook and guidance

• Cost reduction measures are expected to yield results in Q3 2024.

• Additional capital of 2 MSEK anticipated in Q3, further strengthening liquidity.

• Continued focus on divesting portfolio assets and seeking new business opportunities.