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Regulatory press release

Karnell interim report January – June 2024

Karnell
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“Building on the momentum of our successful IPO on Nasdaq Stockholm in March, we have continued to solidify our position as a long-term and active owner of industrial technology companies during the second quarter of 2024. The quarter was marked by stable financial performance and acquisition, underscoring our commitment to delivering sustained value.” Petter Moldenius, CEO


Summary of the second quarter (April 1 – June 30, 2024)

  • Net sales for the second quarter increased by 22.6% to SEK 357.2 million (291.3), of which organic growth amounted to 0.8%.
  • EBITA amounted to SEK 40.8 million (35.7), an increase of 14.1%.
  • The quarter was charged by SEK 0.9 million (0.0) in acquisition costs.
  • Operating profit (EBIT) amounted to SEK 37.5 million (35.0), an increase of 7.1%.
  • Cash flow from operating activities for the quarter amounted to SEK 30.5 million (32.3).
  • Earnings per share for the quarter after dilution amounted to SEK 0.29 (0.54).
  • In April, the over-allotment option issued in connection with the IPO was exercised and Karnell received SEK 37.5 million.
  • In May, Karnell completed the acquisition of Ojop Sweden AB.

Summary of the first half year (January 1 – June 30, 2024)

  • Net sales for the second quarter increased by 19.3% to SEK 642.8 million (538.9), of which organic growth amounted to 1.6%.
  • EBITA amounted to SEK 60.7 million (63.6), which is a decrease of 4.5%.
  • The period is charged by approximately SEK 7.2 million (0.0) in costs related to the IPO, as well as SEK 4.1 million (0.9) in acquisition costs.
  • Operating profit (EBIT) amounted to SEK 54.5 million (62.2), a decrease of 12.4%.
  • Cash flow from operating activities for the quarter amounted to SEK 42.5 million (39.9).
  • Capital raising and transactions with owners have provided the Group with a total of SEK 287.0 million after issue costs.
  • Earnings per share for the quarter after dilution amounted to SEK 0.36 (0.85).
  • During the period, two acquisitions and one add-on acquisition have been completed.

Presentation of the report
Karnell presents the interim report for the second quarter 2024 via webcast and telephone conference today, August 16, at 8:30 am CEST. The report is presented by CEO Petter Moldenius and CFO Lars Neret. The presentation will be held in English and includes a Q&A session.

If you wish to participate via webcast, please use the link below.
https://ir.financialhearings.com/karnell-group-q2-report-2024

If you wish to participate and ask questions via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference.
https://conference.financialhearings.com/teleconference/?id=50050137

About Us

Karnell is a growth-oriented industrial technology group that acquires and develops small and medium-sized product companies and niche-producing companies through a systematic and proactive acquisition strategy. With an eternal ownership horizon and decentralized decision-making model, Karnell provides entrepreneurs and family-owned businesses with a long-term and responsible partner. The company's business concept is to identify and acquire companies with an attractive financial profile and develop these businesses by leveraging the group's tools and expertise. The group consists of 14 companies in Sweden, Finland, and the United Kingdom. Karnell is listed on Nasdaq Stockholm.

This information is information that Karnell Group is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-08-16 07:00 CEST.

Attachments

Karnell Q2 2024 ENG