Nimbus Group AB (publ) decreased its sales by 20 percent to MSEK 378 (475) during the third quarter 2024. EBITA before restructuring costs amounted to MSEK -11 (13). After restructuring costs, EBITA amounted to MSEK -66.
- Order intake increased by 18 percent, indicating that the market has likely bottomed out.
- A sales decrease of 20 percent, increased cost under absorption in the small boat production in particular and had a negative impact on results.
- Directional decision about production adjustments in the Finnish small boat production led to non-recurring costs affecting the quarterly result, but is expected to yield a total profit improvement of MSEK 50 per year when fully implemented in late 2025.
| THIRD QUARTER July – September 2024 | FIRST 9 MONTHS, January – September 2024 |
| Net sales for the second quarter decreased 20 percent to MSEK 378 (475). | Net sales totaled MSEK 1,345, down 13 percent year-on-year (1,537). |
| Organic growth totaled -19 percent. EBITA before restructuring costs amounted to MSEK -11 (13). EBITA after restructuring costs amounted to MSEK -66. |
Organic growth totaled -12 percent. EBITA before restructuring costs amounted to MSEK 20 (104). EBITA after restructuring costs amounted to MSEK -39. |
| EBITA margin before restructuring costs amounted to -2.8 percent (2.7). EBITA margin after restructuring costs amounted to -17.3 percent. | EBITA margin before restructuring costs amounted to 1.5 percent (6.8). EBITA margin after restructuring costs amounted to -2.3 percent. |
| Operating cash flow amounted to MSEK -69 (-46). | Operating cash flow amounted to MSEK -81 (-72). |
| The order book by period-end totaled MSEK 508 (946). | Earnings per share amounted to SEK -2.38 (3.22). |
| Third quarter | First 9 months | Last 12 months | Full year | |||||||
| 2024 | 2023 | % | 2024 | 2023 | % | 2024 | 2023 | % | 2023 | |
| Net sales, MSEK | 378.3 | 475.4 | -20 | 1,345.2 | 1,537.3 | -13 | 1,705.7 | 1,875.3 | -9 | 1,898.4 |
| Operating result, MSEK | -65.7 | 12.7 | -617 | -35.3 | 103.7 | -134 | -39.9 | 113.2 | -135 | 99.1 |
| EBITA, MSEK | -65.6 | 13.0 | -602 | -34.9 | 104.1 | -134 | -39.3 | 114.4 | -134 | 99.7 |
| EBITA margin, % | -17.3% | 2.7% | -20.1 pp | -2.6% | 6.8% | -9.4 pp | -2.3% | 6.1% | -8.4 pp | 5.2% |
| Result for the period, MSEK | -74.1 | 6.6 | -1,228 | -50.7 | 67.1 | -176 | -72.8 | 70.1 | -204 | 45.0 |
| Operating cash flow, MSEK | -69.3 | -46.0 | 51 | -81.0 | -71.8 | 13 | -149.7 | -111.8 | 34 | -153.2 |
| Earnings per share | -3.47 | 0.31 | -1,228 | -2.38 | 3.22 | -174 | -3.41 | 3.68 | -193 | 2.15 |
Link to the report: https://nimbusgroup.se/en/reports-and-presentations/
Analyst conference call: A webcast telephone conference will be held today at 10:00 a.m. during which President and CEO Jan-Erik Lindström will present the report together with CFO Rasmus Alvemyr. The presentation will be followed by a Q&A session. The presentation will be held in English. If you wish to participate via teleconference, please register using the link below. After registration, you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
Nimbus Q3 Report 2024 (financialhearings.com)
You can also follow and listen to the presentation and the conference call using the below web link:
