OK-Q8 (OKQ8) H2 2024 earnings summary

Executive summary

• Achieved strong financial growth with net sales rising to 59,468 MSEK, up 11% year-over-year, and operating profit increasing to 580 MSEK from 363 MSEK.

• Strategic focus on sustainable mobility, electrification, and digital transformation, including major investments in EV charging and solar energy.

• Expanded infrastructure with 788 EV charging points and new solar parks, aiming for 1,100 charging points by 2026.

• Recognized for sustainability, awarded EcoVadis gold medal and ranked most sustainable brand in the sector by Swedish consumers.

Financial highlights

• Net sales: 59,468 MSEK (53,649 MSEK prior year), up 11% year-over-year.

• Operating profit: 580 MSEK (363 MSEK prior year); profit after financial items: 548 MSEK (321 MSEK prior year).

• Net income: 403 MSEK (213 MSEK prior year).

• Solid equity ratio: 51% (48% prior year); return on equity: 8% (5% prior year).

• Total product volume sold: 3,300 thousand m3 (3,153 thousand m3 prior year).

Outlook and guidance

• Strategy updated under “A Stronger OKQ8” to accelerate transition to a leading provider of sustainable energy and mobility solutions.

• Focus on expanding EV charging, solar energy, and digital services for both retail and B2B customers.

• Continued investment in infrastructure and customer experience, including new service stations and digital offerings.