TopRight Nordic (TOPR) Q2 2024 earnings summary

Executive summary

• Q2 2024 marked a turnaround with positive EBITA and operating profit after a period of losses, driven by cost control and a strategic focus on international customers.

• The order book reached SEK 24 million, and gross margin for H1 improved to 52% from 19% year-over-year, indicating operational stabilization.

• The company continues its transformation, targeting large global clients and emphasizing delivery precision and innovative solutions.

Financial highlights

• Net sales for Q2 were SEK 18.99 million, down from SEK 28.42 million year-over-year.

• EBITA for Q2 was SEK 1.2 million, a significant improvement from -SEK 29.9 million in Q2 2023.

• Operating profit (EBIT) for Q2 was SEK 30 thousand, compared to -SEK 32.4 million last year.

• Cash position at quarter-end was SEK 1.68 million, down from SEK 2.92 million a year earlier.

• Result after tax per share for Q2 was -0.001 SEK.

Outlook and guidance

• Management expects continued positive results in upcoming quarters, supported by a strong order book and improved margins.

• The company is positioned for growth with a focus on international clients and a streamlined, skilled delivery organization.