Novolog (NVLG) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue was ₪465.7 million, up 10.7% YoY; Adjusted EBITDA excluding IFRS 16 rose 52% to ₪28.0 million.

• For 1–9 2024, revenue increased 6.8% to ₪1,331.7 million and Adjusted EBITDA excluding IFRS 16 rose 21.6% to ₪86.0 million.

• Logistics, healthcare services and digital health all recorded positive Q3 Adjusted EBITDA.

Financial highlights

• Q3 revenue was ₪465.7 million versus ₪420.8 million YoY; gross profit excluding IFRS 16 was ₪43.7 million versus ₪38.4 million.

• Q3 operating profit was ₪15.3 million versus ₪0.7 million, net profit was ₪12.5 million versus ₪1.1 million, and Adjusted EBITDA excluding IFRS 16 was ₪28.0 million versus ₪18.4 million.

• Including IFRS 16, Q3 gross profit was ₪44.4 million, operating profit ₪16.9 million, net profit ₪11.9 million and Adjusted EBITDA ₪35.8 million.

• For 1–9 2024, operating profit was ₪49.9 million versus ₪35.0 million, net profit ₪40.2 million versus ₪32.3 million, and Adjusted EBITDA excluding IFRS 16 ₪86.0 million versus ₪70.7 million.

Outlook and guidance

• 2024 Adjusted EBITDA guidance is ₪110–113 million, excluding IFRS 16 and before exceptional events.

• Management continues to monitor regional security risks and does not expect material adverse operational effects.

• Implementation of the strategic plan is ongoing, with business activities evaluated for alignment.