Samhall (SH) Q2 2024 earnings summary

Executive summary

• Net sales for Jan–Jun 2024 were SEK 1,668 million, down 2% year-over-year; operating income improved to SEK 115 million from SEK -125 million, and net income reached SEK 238 million from SEK -29 million.

• 736 employees transitioned to jobs outside Samhall in the half-year, with 55% of new hires from prioritized groups.

• The company implemented a new organizational structure and launched an expert center to enhance inclusion and leadership.

Financial highlights

• Net sales for Q2 2024 were SEK 838 million, nearly flat year-over-year; operating income was SEK 55 million, up from SEK -77 million.

• Gross profit margin for Jan–Jun 2024 was 88% (up from 86%); operating margin improved to 7% from -7%.

• State compensation for additional costs increased to SEK 3,936 million for the half-year, up from SEK 3,381 million.

• Cash flow for Jan–Jun 2024 was SEK 176 million, compared to SEK -157 million year-over-year.

• Cash and bank balances at period end were SEK 1,326 million, down from SEK 1,471 million a year earlier.

Outlook and guidance

• The number of employee transitions is unlikely to reach the annual target of 1,500 due to economic conditions and fewer employees in development assignments.

• Business volume remains stable overall, with growth in cleaning and laundry but declines in industry and sector solutions.