SaveLend Group (YIELD) Q3 2024 earnings summary

Executive summary

• Net revenue for Q3 2024 was MSEK 37.3, down 12% year-over-year; EBITDA was MSEK 4.6, a 28% decrease from Q3 2023, but up 112% sequentially from Q2 2024.

• EBIT for Q3 was MSEK -3.4, and net result was MSEK -4.0; earnings per share before dilution were SEK -0.07.

• Capital on the savings platform reached SEK 1.77 billion, up 2% year-over-year and stable sequentially.

• Billecta, the billing platform, achieved record billing transactions and 17% net revenue growth year-over-year.

• Strategic review of Billecta ongoing, with a non-binding letter of intent for its sale and due diligence in progress.

Financial highlights

• Q3 net revenue: MSEK 37.3 (Q3 2023: MSEK 42.4); Q1-Q3 net revenue: MSEK 119.1 (Q1-Q3 2023: MSEK 127.4).

• Q3 EBITDA: MSEK 4.6 (Q3 2023: MSEK 6.3); Q1-Q3 EBITDA: MSEK 5.9 (Q1-Q3 2023: MSEK 12.2).

• Q3 EBIT: MSEK -3.4 (Q3 2023: MSEK 0.1); Q1-Q3 EBIT: MSEK -12.4 (Q1-Q3 2023: MSEK -5.6).

• Cash and cash equivalents at period end: MSEK 7.1 (Q3 2023: MSEK 23.5); net debt increased to MSEK 31.3 (Q3 2023: MSEK 11.2).

• Adjusted equity/assets ratio: 47% (Q3 2023: 49%).

Outlook and guidance

• Management expects continued positive effects from efficiency measures and sees further potential from expected interest rate cuts and government stimulus.

• Strategic review of Billecta expected to conclude in Q4, with strong interest from potential buyers.

• Focus remains on profitability and efficiency over top-line growth.