Treasure (TRE) H1 2024 earnings summary

Executive summary

• Net profit for H1 2024 reached USD 46.8 million, mainly from Hyundai Glovis share of profit.

• Hyundai Glovis share price increased significantly, with a strong balance sheet and dividend capacity.

• Dividend of NOK 0.75 per share paid in May 2024.

• Main asset remains the Hyundai Glovis stake, subject to global trade and logistics fluctuations.

Financial highlights

• Operating profit for H1 2024 was USD -170 thousand; share of profit from Hyundai Glovis was USD 49.1 million.

• Net profit for H1 2024 was USD 46.8 million, up from USD 44.0 million in H1 2023.

• Basic diluted EPS for H1 2024 was USD 0.23, compared to USD 0.21 in H1 2023.

• Total comprehensive income for H1 2024 was USD 5.5 million, impacted by negative currency translation differences.

Outlook and guidance

• Future performance closely tied to Hyundai Glovis share price and global logistics trends.

• Forward-looking statements are subject to significant uncertainties and contingencies.