Resqunit (RESQ) H2 2024 earnings summary

Executive summary

• 2024 marked a transformative year, with a strategic pivot following the bankruptcy of Resqunit AS and liquidation of Resqunit Canada Inc, leaving Resqunit AB with no operational business or holdings as of year-end.

• Efforts to secure a reverse acquisition with Bio Vitos Norge AS and others were unsuccessful due to Nasdaq Stockholm's listing requirements, prompting exploration of alternative RTO opportunities.

• The company eliminated SEK 13.4 million in subsidiary debt, significantly reducing operational costs and strengthening its financial foundation.

Financial highlights

• Group net sales for 2024 were SEK 464,040, down from SEK 1,383,947 in 2023; operating profit improved to SEK -5,018,294 from SEK -18,819,913 year-over-year.

• Earnings per share improved to -0.41 SEK from -1.57 SEK year-over-year; equity per share at 0.02 SEK versus -0.90 SEK.

• Shareholders' equity at year-end was SEK 194,309, up from SEK -10,786,716 the previous year, mainly due to debt elimination and cost reductions.

• Group fixed assets reduced to SEK 0 from SEK 76,796; current assets decreased to SEK 355,429 from SEK 2,432,256 year-over-year.

• Liabilities dropped to SEK 37,593 from SEK 13,295,770 at year-end 2023.

Outlook and guidance

• Focus has shifted to identifying new reverse takeover opportunities to maintain Nasdaq First North Growth Market listing and deliver shareholder value.

• The company remains committed to leveraging innovation and strategic investments for long-term growth.