Scandbook (SBOK) Q2 2024 earnings summary

Executive summary

• Net sales for Q2 2024 increased by 2.6% to SEK 98.1m compared to Q2 2023, with EBIT rising to SEK 5.7m from SEK 2.5m.

• Strong demand for pocket books, especially driven by export growth to the US, contributed to the quarter's performance.

• Digital print technology upgrades improved efficiency, reduced paper waste, and lowered maintenance costs.

• A new decorative book edge printing service was launched, targeting trends among younger readers.

Financial highlights

• Q2 2024 EBITDA was SEK 11.0m (Q2 2023: SEK 7.6m); EBIT was SEK 5.7m (Q2 2023: SEK 2.5m); net income was SEK 4.6m (Q2 2023: SEK 1.6m).

• H1 2024 net sales were SEK 195.9m (H1 2023: SEK 196.3m); EBITDA SEK 20.1m (H1 2023: SEK 16.9m); EBIT SEK 9.6m (H1 2023: SEK 6.9m); net income SEK 7.4m (H1 2023: SEK 5.0m).

• Q2 2024 EPS was SEK 0.68 (Q2 2023: SEK 0.24); H1 2024 EPS was SEK 1.10 (H1 2023: SEK 0.75).

• Cash flow for Q2 2024 was SEK 3.1m (Q2 2023: SEK 3.9m); cash at period end was SEK 51.7m (Q2 2023: SEK 50.1m).

• Dividend of SEK 15.2m paid to shareholders during H1 2024.

Segment performance

• Sweden segment Q2 2024 net sales: SEK 23.5m; EBITDA: SEK 1.2m; EBT: SEK 14.3m.

• Lithuania segment Q2 2024 net sales: SEK 74.9m; EBITDA: SEK 9.3m; EBT: SEK 5.9m.

• Export sales, especially to the US, were a key growth driver in Q2.