Strategic Partners (STRAP) H1 2024 earnings summary

Executive summary

• Achieved net profit of DKK 1.7 million in H1 2024, reversing a DKK 12.8 million loss in H1 2023, driven by lower expenses and a settlement with Zevra.

• Operating expenses dropped to DKK 1.5 million from DKK 12.8 million year-over-year.

• Strategic focus on partnerships, notably a 10% stake in CombiGene AB, and exploring expansion into new industries.

• Finalizing liquidation of US and Swiss subsidiaries, with future operations centered in Denmark.

Financial highlights

• Settlement with Zevra contributed DKK 3.4 million as other income in H1 2024.

• Cash position increased to DKK 14.0 million as of June 30, 2024, up from DKK 11.3 million at year-end 2023.

• Total comprehensive income for H1 2024 was DKK 1.8 million, compared to a loss of DKK 12.8 million in H1 2023.

• Basic and diluted EPS for H1 2024 was DKK 52, versus DKK -360 in H1 2023.

• Net cash from operating activities improved to DKK -0.3 million from DKK -12.1 million year-over-year.

Outlook and guidance

• Upwardly revised 2024 operating result guidance to DKK -1 to +1 million, from previous DKK -3 to -4 million.

• Forward-looking statements subject to risks and uncertainties, with results potentially differing materially.