Recyctec (RECY) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 increased by 5% year-over-year to SEK 3,035,113, with a 6% increase for the first nine months of 2024.

• Operating loss before financial items improved to SEK -1,733,290 from SEK -4,399,015 in Q3 2023, which included a SEK -2,377,430 loss from property sale.

• Result per share improved to SEK -0.15 from SEK -0.36 year-over-year.

• Sales expansion into Norway and Finland through distributor partnerships contributed to growth.

• Delivery issues with containers led to delayed shipments and lost sales of approximately SEK 200,000 in the quarter.

Financial highlights

• Net sales for Q3 2024: SEK 3,035,113 (Q3 2023: SEK 2,882,594); nine-month sales: SEK 10,095,669 (2023: SEK 9,539,718).

• Operating loss after financial items: SEK -2,022,704 (Q3 2023: SEK -4,711,479).

• Cash flow from operations for Q3: SEK -675,950 (Q3 2023: SEK -571,667); cash at period end: SEK 262,306.

• Equity at period end: SEK -8,302,857; total assets: SEK 7,694,532.

• No new share issues or major financing activities in Q3.

Outlook and guidance

• Management maintains the goal of achieving positive cash flow within the next year.

• Anticipated interest rate cuts are expected to improve market conditions and drive new sales.

• Ongoing discussions with new customers and partners are expected to generate additional sales in 2025.