Samtrygg Group (SAMT) Q3 2024 earnings summary

Executive summary

• Total revenues in Q3 2024 increased 16% year-over-year to 115.8 MSEK, but sales revenues declined 5% to 14.6 MSEK due to fewer contracts and lower contract values.

• EBITDA turned positive at 0.8 MSEK versus -2.1 MSEK in Q3 2023, reflecting improved underlying profitability.

• The Be Resident acquisition and a one-time accounting adjustment boosted sales revenues by 4.5 MSEK in Q1.

• The company is expanding value-added services and adapting its business model amid a challenging macroeconomic environment.

Financial highlights

• Q3 2024 total revenues: 115.8 MSEK (up 16% year-over-year); sales revenues: 14.6 MSEK (down 5%).

• Q3 EBITDA: 0.8 MSEK (vs. -2.1 MSEK Q3 2023); EBIT: -0.5 MSEK (vs. -2.5 MSEK); net result: -0.6 MSEK (vs. -2.6 MSEK).

• Q1–Q3 2024 total revenues: 370.0 MSEK (up 31%); EBITDA: 6.6 MSEK (vs. -1.0 MSEK); net result: 2.3 MSEK (vs. -2.4 MSEK).

• Earnings per share Q3: -0.058 SEK (vs. -0.249 SEK); Q1–Q3: 0.222 SEK (vs. -0.237 SEK).

• Cash at period end: 7.7 MSEK (vs. 12.8 MSEK Q3 2023); equity: 10.2 MSEK (vs. 7.9 MSEK at 2023 year-end).

Outlook and guidance

• The company expects to benefit from a stabilizing core business and is preparing for improved profitability as the market recovers.

• Ongoing regulatory changes may further support both B2B and P2P business segments.