Preservia (PHOL PREF) Q2 2024 earnings summary

Executive summary

• Net sales for January–June 2024 were 0.0 MSEK, down from 0.2 MSEK year-over-year.

• Result after tax was -19.8 MSEK, compared to -12.6 MSEK for the same period last year.

• The period was marked by a finalized restructuring of the Bålsta project, impacting results.

• Focus remained on optimizing business and ownership structure and evaluating new investment opportunities.

Financial highlights

• Operating result before depreciation was -3.1 MSEK, an improvement from -4.3 MSEK year-over-year.

• Cash flow for the period was -11.1 MSEK, compared to -4.6 MSEK last year.

• Earnings per share were -13.21 SEK, down from -8.41 SEK year-over-year.

• Cash and cash equivalents at period end were 35.7 MSEK, up from 2.2 MSEK last year.

• No long-term interest-bearing debt at period end, compared to 22.0 MSEK last year.

Outlook and guidance

• Liquidity and expected future inflows are deemed sufficient to cover operational costs and commitments for the next 12 months.

• Management expects improved cash flow from the Trelleborg project due to lower financing costs and operational efficiencies.

• Ongoing efforts to simplify the ownership structure to support long-term value creation.