Q-Interline (QINTER) H2 2024 earnings summary

Executive summary

• Revenue grew 22% year-over-year to DKK 39.1m, driven by strong H2 sales and strategic initiatives, especially in core markets and new segments.

• DairyQuant GO and InSight Pro analyzers were key growth drivers, with ARR up 19% and now 35% of total revenue.

• EBIT was DKK -12.3m, below guidance, due to high investments in business development, US subsidiary setup, and unexpected recruitment costs.

• Four capital raises totaling DKK 23.7m strengthened liquidity and supported growth; major shareholder Nescon ApS increased its stake to over 25%.

• Record order intake in late 2024 and a strong pipeline provide a solid foundation for continued growth.

Financial highlights

• Revenue: DKK 39.1m (+22% vs. 2023); ARR: DKK 13.7m (+19% vs. 2023), representing 35% of total revenue.

• EBIT: DKK -12.3m (2023: DKK -9.6m); Net result: DKK -13.1m (2023: DKK -10.1m).

• EBITDA: DKK -11.2m; EBIT margin: -31.4%; Net result per share: DKK -0.72.

• Equity: DKK 11.6m; Soliditetsgrad: 36.0%; Liquidity ratio: 143.9%.

• Cash flow from operations: DKK -18.1m; cash flow from financing: DKK +20.0m.

Outlook and guidance

• 2025 revenue guidance: DKK 47–55m (+21–41% vs. 2024); EBIT guidance: DKK -9.0m to -5.0m.

• Growth expected from subsidiaries in Germany, France, USA, and renewed focus on Scandinavia and UK.

• Large order intake and 22.5% pipeline growth at year-end support positive outlook.

• Liquidity expected to be sufficient, supported by DKK 3m shareholder commitment.