Ramlösa Shipping (RAMSH) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 were 10,704 tkr, down from 31,405 tkr year-over-year; nine-month sales totaled 34,300 tkr, down from 118,086 tkr.

• Q3 operating result was -174 tkr (11,507 tkr), adjusted for IPO costs 4,368 tkr; nine-month operating result -4,485 tkr (71,110 tkr), adjusted 57 tkr.

• Q3 EBITDA was 4,806 tkr (11,689 tkr), adjusted 9,348 tkr; nine-month EBITDA 4,009 tkr (81,244 tkr), adjusted 8,551 tkr.

• Q3 net result was -4,930 tkr (11,202 tkr), adjusted -388 tkr; nine-month net result 13,611 tkr (61,643 tkr), adjusted 18,153 tkr.

• Q3 EPS was -2.3 kr (6.9 kr), adjusted -0.2 kr; nine-month EPS 9.5 kr (36.0 kr), adjusted 12.7 kr.

Financial highlights

• Equity at period end was 88,595 tkr (101,126 tkr); equity per share 29.0 kr (25.3 kr).

• Q3 group cash flow from operations was 30,692 tkr; cash at period end 14,307 tkr (40,845 tkr).

• Q3 group operating margin (EBIT) was negative, but adjusted for IPO costs, positive.

• Q3 group soliditet (equity ratio) was 91.4% (99.9%).

Outlook and guidance

• Management expects cash flows from new investments to ramp up in coming quarters as recent acquisitions begin to generate returns.

• The company aims for at least 20% annual return on invested capital in new projects.

• Expansion efforts are underway to position the company as a leading shipping investment alternative in Sweden.