Ramlösa Shipping (RAMSH) Q2 2024 earnings summary

Executive summary

• Investment company in shipping sector focused on acquiring undervalued vessels and diversifying risk through various contract forms and market segments.

• No net sales reported for the period; business model centers on capital gains and investments.

Financial highlights

• Net sales were SEK 0 for Q2 and H1 2024, unchanged from previous periods.

• Result after financial items was SEK 1,904k for Q2 2024 (vs. -383k Q2 2023) and SEK 25,071k for H1 2024 (vs. -396k H1 2023), driven by capital gains.

• Solidity at 87% as of June 30, 2024, down from 100% a year earlier due to increased investments.

• Total assets increased to SEK 94,243k from SEK 28,626k year-over-year.

• Cash and cash equivalents at period end were SEK 28,229k (vs. 439k a year earlier).

Outlook and guidance

• Revenue from recently acquired vessels expected to increase in coming quarters, improving cash flow.

• Freight rates for TRF Mobile are above budget, with no near-term decline anticipated.

• Ongoing search for new investment opportunities and market analysis continues.

• Targeting listing on First North Growth Market in autumn 2024 with a maximum new issue of SEK 27m.