Stockholm Treasury (STHLM) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 were 6,115 Tkr, down 38.2% year-over-year due to fewer visitors and reduced opening days.

• Strategic cost savings were implemented, including lower rent and electricity costs, and adjusted facility hours.

• VREX City relocated to a more central location, expected to positively impact sales.

• Anticipation of a strong sales period in Q4, with focus on Black Week and holiday season.

• CEO transition occurred in October, with Daniel Volle appointed as interim CEO.

Financial highlights

• Q3 2024 net sales: 6,115 Tkr (down from 9,900 Tkr in Q3 2023).

• Q3 2024 operating result: -1,981 Tkr (vs. +1,928 Tkr in Q3 2023).

• Q3 2024 net result: -2,362 Tkr (vs. +1,335 Tkr in Q3 2023); EPS: -0.14 SEK.

• January–September 2024 net sales: 22,540 Tkr (down 5.1% year-over-year).

• January–September 2024 operating result: -2,866 Tkr (vs. +3,441 Tkr in 2023); net result: -3,927 Tkr; EPS: -0.23 SEK.

Outlook and guidance

• Expectation of a historically strong sales period in Q4, driven by Black Week and holiday season.

• Strategic focus for 2025 on strengthening relationships with core customer base, especially sport flyers.