Stockwik Reports Strong Second Quarter Growth
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Continued Organic Profit Growth in a Careful Market
After a strong start, operating profit (EBITA) in the second quarter increased by 8.2% to SEK 6.1 million compared to SEK 5.6 million in the same period last year. Meanwhile, net sales saw a modest increase of 1.3% to SEK 213.6 million, up from SEK 210.8 million.
Focus on Profitability and Cost Efficiency
Stockwik Förvaltning AB continues to emphasize enhanced profitability and capital efficiency across the group. During the summer months, the company implemented a series of cost-saving measures anticipated to reduce operating expenses by approximately SEK 13 million on an annual basis. This figure surpasses the initial target of SEK 10 million communicated in the quarterly report from the third quarter of 2023.
Q2 Financial Highlights for April 1 - June 30, 2024
The financial performance of Stockwik for the second quarter is highlighted by the following metrics:
- Net Sales: SEK 213.6 million (up 1.3% from SEK 210.8 million in Q2 2023)
- EBITDA: SEK 16.8 million (up 10.4% from SEK 15.2 million in Q2 2023)
- EBITA: SEK 6.1 million (up 8.2% from SEK 5.6 million in Q2 2023)
- Adjusted EBITA: SEK 7.2 million (up 38.1% from SEK 5.2 million in Q2 2023)
Profitability Metrics
The company's focus on profitability is also evident in the EBIT margins. The EBITA margin for the quarter increased to 2.8%, compared to 2.7% in the corresponding quarter last year.
Financial Performance for January 1 - June 30, 2024
Looking at the first half of 2024, Stockwik reported the following financial results:
- Net Sales: SEK 414.4 million (up 2.8% from SEK 403.3 million in the first half of 2023)
- EBITDA: SEK 39.3 million (up 4.0% from SEK 37.8 million in the first half of 2023)
- EBITA: SEK 18.0 million (down 9.1% from SEK 19.8 million in the first half of 2023)
- Adjusted EBITA: SEK 21.8 million (up 37.8% from SEK 15.8 million in the first half of 2023)
Mid-Year Performance Insights
The adjusted EBITA margin reached 5.3%, showing improvement from 3.9% in the prior year. These results illustrate the effectiveness of Stockwik's focus on cost-efficiency and market adaptability.
Rolling Twelve-Month Period Insights
For the twelve-month period ending June 30, 2024, Stockwik reported the following key financial metrics:
- Net Sales: SEK 830.3 million (up 1.0% from SEK 822.3 million for the previous year)
- EBITDA: SEK 91.0 million (up 5.7% from SEK 86.1 million for the previous year)
- Adjusted EBITDA: SEK 100.2 million (increased from the previous year's 86.1 million)
Overall Financial Health
The company's operational cash flow during this period was SEK 45.0 million, up from SEK 29.0 million in the previous twelve-month period, reflecting robust cash management strategies.
About Stockwik Förvaltning AB
Stockwik offers a stable platform for the growth of small businesses, focusing on organic development and strategic acquisitions. Its portfolio includes companies that provide value-adding products and services to corporate clients. Stockwik is publicly traded on Nasdaq Stockholm under the ticker symbol STWK.
For further information, please contact:
Urban Lindskog, President and CEO
Stockwik Förvaltning AB (publ)
Email: info@stockwik.se
Frequently Asked Questions
What were the key financial highlights for Stockwik in Q2 2024?
Stockwik reported net sales of SEK 213.6 million, EBITDA of SEK 16.8 million, and an EBITA of SEK 6.1 million in Q2 2024.
What measures is Stockwik taking to improve profitability?
The company has implemented various cost-saving measures expected to reduce operating expenses by around SEK 13 million annually.
How did Stockwik perform in the first half of 2024?
In the first half of 2024, Stockwik achieved net sales of SEK 414.4 million, with an adjusted EBITA of SEK 21.8 million.
What is the significance of the adjusted EBITA margin?
The adjusted EBITA margin reflects the company's operational efficiency and profitability, which improved to 5.3% in the first half of 2024.
What does Stockwik do?
Stockwik facilitates stability and growth for small businesses through organic developments and acquisitions, focusing on delivering value to corporate clients.
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