Perpetua Medical (PERP) Q2 2024 earnings summary

Executive summary

• Transitioned to an acquisition-focused strategy, including intent to acquire 70% of ES Medical AB with an option for full ownership after three years.

• Completed name change and organizational restructuring; listed on Nasdaq First North Stockholm.

• Offered a SEK 25 million loan facility from main shareholder Nolsterby Invest to finance acquisitions, pending EGM approval.

• Divested DrugLog in Q1 and initiated intent to divest WasteLog post-period.

Financial highlights

• Q2 net sales SEK 1,017k, down 20% year-over-year; H1 net sales SEK 2,390k, down 60% year-over-year.

• Q2 operating loss SEK -2,225k, improved from SEK -5,589k; H1 operating loss SEK -185k, improved from SEK -9,887k.

• H1 net result SEK 8k (vs. SEK -9,785k); Q2 EPS SEK -0.02 (vs. SEK -0.29); H1 EPS SEK 0.00 (vs. SEK -0.50).

• Q2 cash flow SEK -2,206k (vs. SEK -3,944k); H1 cash flow SEK 3,369k (vs. SEK -8,301k); cash at period end SEK 8,902k.

• Realized gain of SEK 6,330k from DrugLog divestment in H1.

Outlook and guidance

• Focus on acquiring profitable healthcare companies with initial targets in the SEK 20m revenue range.

• Cost savings from Pharmacolog wind-down to be fully realized after Q2.

• No explicit acquisition targets set, but active pipeline and ongoing dialogues with potential targets.