Xer Tech (XER) Q2 2024 earnings summary

Executive summary

• Substantial decrease in net asset value to 34.9 MSEK as of June 30, 2024, mainly due to negative share price development in Gosol Energy Group.

• No revenue generated in H1 2024, compared to 283 TSEK in H1 2023.

• Focus remains on quality investments, with active search for new opportunities despite a challenging market for small companies.

Financial highlights

• Net loss for January–June 2024 was -209 TSEK, compared to -155 TSEK in the same period last year.

• EBITDA for H1 2024 was -806 TSEK, down from -411 TSEK in H1 2023.

• Cash position increased to 8.9 MSEK at June 30, 2024, from 4.0 MSEK a year earlier.

• Result per share improved to -0.03 SEK from -0.08 SEK year-over-year.

• Net asset value per share decreased to 5.52 SEK from 6.38 SEK at September 2023.

Outlook and guidance

• Management expects to present new acquisitions and continues to prioritize quality over quantity in investments.

• Ongoing active dialogues with potential investees, with a long-term positive view on the solar sector despite current headwinds.