Relevance Communication Nordic (RLVNC) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 reached 9,636 TSEK, up 473% year-over-year, driven by the Dagens PS AB acquisition and group consolidation.

• EBITDA (operating result before depreciation) was 431 TSEK, a turnaround from -287 TSEK last year.

• Result after financial items was -1,383 TSEK, impacted by goodwill amortization from acquisitions.

• Unique users surged to 6.56 million, up 47% sequentially, with strong traffic growth from the acquisition of Realtid.

• Strategic focus is shifting to core media operations, with Jobb55 being phased out to improve profitability.

Financial highlights

• Net sales Q3: 9,636 TSEK (1,680 TSEK), up 473% year-over-year.

• EBITDA: 431 TSEK (-287 TSEK), up 718 TSEK year-over-year.

• Result after financial items: -1,383 TSEK (-445 TSEK), mainly due to goodwill amortization.

• Earnings per share: -0.06 SEK (-0.04 SEK) for Q3.

• Cash at period end: 956 TSEK (50 TSEK); equity: 23,658 TSEK (2,526 TSEK).

Outlook and guidance

• Management expects continued growth in traffic and advertising revenues, focusing on finance and business news.

• The phasing out of Jobb55 is expected to positively impact future results.

• Anticipates a strong finish to the year, leveraging increased user engagement and cross-site synergies.