Plejd (PLEJD) Q2 2024 earnings summary

Executive summary

• Revenue grew 32.5% year-over-year in Q2 2024, driven by new product categories and normalized installation rates.

• Profitability improved with higher operating income and optimized cost structure.

• Three new products launched, including a new sun protection category aimed at European expansion.

Financial highlights

• Q2 2024 net sales: 146,194 tkr (110,328 tkr), up 32.5% year-over-year.

• Q2 gross margin: 53.4% (57.4%), impacted by lower-margin new product category.

• Q2 EBITDA: 41,712 tkr (21,232 tkr), margin 28.5% (19.2%).

• Q2 EBIT: 24,906 tkr (7,947 tkr), margin 17.0% (7.2%).

• Q2 EPS: 1.69 kr (0.53 kr).

Outlook and guidance

• Continued growth expected, supported by new product launches and European market expansion.