Profilgruppen (PROF) Q2 2024 earnings summary

Executive summary

• Turnover for Q2 2024 was MSEK 604.5, down 10% year-over-year, mainly due to lower aluminium prices and decreased delivery volumes.

• Operating profit for Q2 was MSEK 54.9, with a margin of 9.1%, slightly below last year; net profit rose to MSEK 41.6.

• For the first six months, turnover fell 13% to MSEK 1,185.7, but EBITDA improved to MSEK 144.9 and net profit to MSEK 69.1.

• CEO highlights the need for further profitability improvements through price and margin measures.

Financial highlights

• Q2 EBITDA was MSEK 78.4 (down from 86.6), and operating profit was MSEK 54.9 (down from 63.3).

• Q2 net profit increased to MSEK 41.6 from 39.6; EPS was SEK 5.32 (4.99).

• H1 EBITDA rose to MSEK 144.9 (140.3), operating profit to MSEK 98.5 (95.1), and net profit to MSEK 69.1 (58.6).

• Cash flow from operating activities in H1 was MSEK 98.6, down from 252.3 due to prior year pandemic-related effects.

• Investments in H1 totaled MSEK 32.7, mainly in machinery and equipment.

Outlook and guidance

• No formal forecast provided for 2024; focus remains on improving profitability and margin.