SaveLend Group (YIELD) Q2 2024 earnings summary

Executive summary

• Net revenue for Q2 2024 increased 3% year-over-year to MSEK 41.6; EBITDA rose 49% to MSEK 2.1.

• EBIT improved to MSEK -4.1 from MSEK -4.5; net result was MSEK -4.9, slightly lower than last year.

• Capital on the savings platform was SEK 1.77 billion, up 3.2% year-over-year but down 1.7% sequentially.

• Annual returns for Balanced and Yield strategies were 7.09% and 8.12%, respectively, in line with targets.

• Strategic review of subsidiary Billecta initiated; directed share issue raised SEK 8.8 million.

Financial highlights

• Q2 net revenue: MSEK 41.6 (MSEK 40.5); H1 net revenue: MSEK 81.7 (MSEK 85.0).

• Q2 EBITDA: MSEK 2.1 (MSEK 1.4); H1 EBITDA: MSEK 3.8 (MSEK 5.9).

• Q2 EBIT: MSEK -4.1 (MSEK -4.5); H1 EBIT: MSEK -9.0 (MSEK -5.6).

• Q2 net result: MSEK -4.9 (MSEK -4.6); H1 net result: MSEK -10.5 (MSEK -5.8).

• Earnings per share before dilution: SEK -0.09 for Q2, SEK -0.20 for H1.

Outlook and guidance

• Efficiency improvements are expected to yield further results in H2 2024.

• Focus shifting to B2B lending to offset potential regulatory impacts on consumer credit.

• Management remains committed to achieving positive cash flow and sustainable profitability.