Zenicor (ZENI) Q2 2024 earnings summary

Executive summary

• Revenue for Q2 2024 reached 6,430 KSEK, a 3% increase year-over-year, marking the highest Q2 revenue to date.

• EBITDA for Q2 2024 was 1,104 KSEK, up from 127 KSEK in Q2 2023.

• Operating profit turned positive at 118 KSEK, compared to -438 KSEK in Q2 2023.

• Revenue has increased for 13 consecutive quarters.

• Growth was impacted by delayed procurements in Sweden and Finland, but cost adjustments and new loans have strengthened liquidity.

Financial highlights

• Revenue for Q2 2024: 6,430 KSEK (6,238 KSEK in Q2 2023).

• EBITDA for Q2 2024: 1,104 KSEK (127 KSEK in Q2 2023).

• Operating profit for Q2 2024: 118 KSEK (-438 KSEK in Q2 2023).

• Earnings per share for Q2 2024: 0.01 SEK (-0.05 SEK in Q2 2023).

• Net result for Q2 2024: -430 KSEK (-911 KSEK in Q2 2023).

Outlook and guidance

• Targeting a 20% growth rate within 6–12 months, with positive full-year results expected.

• Q3 revenue is seasonally lower, but Q4 is expected to show accelerating growth.

• Cost adjustments and improved cash flow are expected to reduce total loan debt from Q3 2024.