Nynomic (M7U) H1 2024 earnings summary

Executive summary

• Sales declined 10% year-over-year to €47.7 million in H1 2024, but business dynamics improved sequentially in Q2 2024.

• EBIT decreased 9% to €4.2 million, with a stable EBIT margin of 8.8%, reflecting resilient operational performance.

• Order backlog increased 10% to €59.5 million as of July 1, 2024, supporting future growth.

• The company remains optimistic about achieving medium-term goals, driven by innovation and a strong market position.

Financial highlights

• EBITDA fell 3% year-over-year to €6.6 million; EPS before minority interests dropped 22% to €0.40.

• Operating cash flow turned positive at €573k, up from -€8.7 million in H1 2023.

• Equity increased 2% to €105.8 million, while financial liabilities dropped 20% to €7.5 million.

• Investments rose 30% to €2.2 million; personnel costs increased 10% due to higher headcount and the inclusion of art photonics GmbH.

Outlook and guidance

• Management reaffirms 2024 guidance for single-digit percentage sales growth and a moderate EBIT margin improvement.

• Above-average growth is expected in H2 2024, with medium-term targets of at least €200 million in annual sales and an EBIT margin of 16–19%.

• No significant direct investments in fixed assets are planned; focus remains on integrating new subsidiaries.