Relevance Communication Nordic (RLVNC) Q2 2024 earnings summary

Executive summary

• Net revenue for Q2 2024 reached 9,203 TSEK, up 436% year-over-year, driven by the acquisition of Dagens PS AB and consolidation of group results.

• Operating profit before depreciation was 86 TSEK, a turnaround from -321 TSEK in Q2 2023.

• Result after financial items was -1,338 TSEK, impacted by goodwill amortization and one-time costs.

• Unique users reached nearly 4.5 million in Q2, a 25% increase from Q1 2024.

• Strategic acquisition of Realtid Media AB and strong ad revenue growth in Dagens PS contributed to performance.

Financial highlights

• Net revenue: 9,203 TSEK (Q2 2024) vs 1,715 TSEK (Q2 2023); 16,312 TSEK for H1 2024.

• Operating profit before depreciation: 86 TSEK (Q2 2024) vs -321 TSEK (Q2 2023).

• Result after financial items: -1,338 TSEK (Q2 2024) vs -496 TSEK (Q2 2023).

• Earnings per share: -0.06 SEK (Q2 2024) vs -0.05 SEK (Q2 2023).

• Cash at period end: 22 TSEK; equity ratio 67%.

Outlook and guidance

• Management expects continued growth from integration of Realtid and ongoing investments in editorial and technical development.

• Anticipates further traffic and ad revenue increases as new platforms are integrated.