Novus Group (NOVU) Q2 2024 earnings summary

Executive summary

• Net sales for Q2 2024 increased 8% year-over-year to SEK 19,134k, with operating profit before tax at SEK 366k, reversing a loss from Q2 2023.

• Operating margin improved to 1.9% from -5.9% in Q2 2023, reflecting ongoing expansion and operational improvements.

• Novus maintained its position as a leading research firm, accurately predicting the EU election and launching new products and partnerships.

Financial highlights

• Q2 2024 net sales: SEK 19,134k (Q2 2023: SEK 17,723k); H1 2024: SEK 36,940k (H1 2023: SEK 35,574k).

• Q2 2024 operating profit: SEK 366k (Q2 2023: -1,052k); H1 2024: SEK 1,919k (H1 2023: SEK 45k).

• Q2 2024 net income: SEK 292k (Q2 2023: -1,049k); H1 2024: SEK 1,509k (H1 2023: SEK 35k).

• Q2 2024 EPS: SEK 0.03 (Q2 2023: -0.10); H1 2024 EPS: SEK 0.15 (H1 2023: 0.003).

• Cash flow for Q2 2024: SEK 464k (Q2 2023: -1,538k); cash position at June 30, 2024: SEK 10,990k.

Outlook and guidance

• Management highlights continued expansion and focus on delivering reliable insights, leveraging new digital methods and AI tools.

• Ongoing investments in panel development and digital survey capabilities are expected to support future growth.