Prebona (PREBON) Q2 2024 earnings summary

Executive summary

• Net sales for Q2 2024 were SEK 1.43 million, down from SEK 2.33 million year-over-year, with a net loss after financial items of SEK -2.50 million compared to SEK -1.51 million.

• H1 2024 net sales reached SEK 3.53 million, a decrease from SEK 5.37 million year-over-year, and net loss after financial items widened to SEK -3.72 million from SEK -2.06 million.

• Product launches and new customer agreements in AirCare, SurfaceCare, HealthCare, and AgriCare segments, including international expansion and new patents.

• A directed share issue raised SEK 1.7 million before costs, supporting ongoing operations.

Financial highlights

• Q2 2024 net sales: SEK 1,430,650 (Q2 2023: SEK 2,331,830); H1 2024: SEK 3,526,835 (H1 2023: SEK 5,372,864).

• Q2 2024 net loss after financial items: SEK -2,503,833 (Q2 2023: SEK -1,505,238); H1 2024: SEK -3,715,279 (H1 2023: SEK -2,056,764).

• Q2 2024 operating cash flow: SEK -1,502,880 (Q2 2023: SEK -1,308,054); H1 2024: SEK -3,038,315 (H1 2023: SEK -579,445).

• Earnings per share Q2 2024: SEK -0.09 (Q2 2023: SEK -0.06); H1 2024: SEK -0.14 (H1 2023: SEK -0.08).

• Equity ratio at June 30, 2024: 12.5%.

Outlook and guidance

• Management expects sales to increase in 2024 due to ongoing sales activities and new product commercialization.

• The company believes available liquidity and new financial commitments will fund operations for the next 12 months, though targeted strategic initiatives may require additional financing.

• Focus remains on expanding sales in AirCare and HealthCare, with international growth and new partnerships.