Nimbus Group AB (publ) decreased its sales by 18 percent to MSEK 623 (756) during the second quarter 2024. EBITA amounted to MSEK 45 (83) and the EBITA margin to 7.2 percent (11.0). "The second quarter was characterized by a wait-and-see attitude in several major markets which had a negative effect on both sales and profitability. The quarter contained some bright spots however, including increasing market share for the Nimbus brand in the premium segment in the North American market and the first signs that the Nordic market may have bottomed out", says Jan-Erik Lindström, CEO of Nimbus Group.
SECOND QUARTER April - June 2024 | FIRST 6 MONTHS |
| Net sales for the second quarter decreased 18 percent to MSEK 623 (756). | Net sales totaled MSEK 967 down 9 percent year-on-year (1,060). |
| Organic growth totaled -18 percent. EBITA amounted to MSEK 45 (83). | Organic growth totaled -2.9 percent. EBITA amounted to MSEK 31 (91). |
| The EBITA margin was 7.2 percent (11.0). | The EBITA margin was 3.2 percent (8.6). |
| Operating cash flow amounted to MSEK 79 (96). | Operating cash flow amounted to MSEK -12 (-26). |
| The order book by period-end totaled MSEK 508 (1,103). | Earnings per share amounted to SEK 1.10 (2.95). |
| Second quarter | First 6 months | Last 12 months | Full year | |||||||
| 2024 | 2023 | % | 2024 | 2023 | % | 2024 | 2023 | % | 2023 | |
| Net sales, MSEK | 623.4 | 755.7 | -18 | 967.1 | 1,060.0 | -9 | 1,805.6 | 1,800.3 | 0 | 1,898.4 |
| Operating result, MSEK | 44.5 | 83.2 | -47 | 30.6 | 90.8 | -66 | 39.0 | 145.2 | -73 | 99.1 |
| EBITA, MSEK | 44.7 | 83.3 | -46 | 30.7 | 91.0 | -66 | 39.1 | 145.5 | -73 | 99.7 |
| EBITA-margin, % | 7.2% | 11.0% | -3.9 pp | 3.2% | 8.6% | -5.4 pp | 2.2% | 8.1% | -5.9 pp | 5.2% |
| Result for the period, MSEK | 30.4 | 61.2 | -50 | 23.4 | 60.6 | -61 | 7.9 | 91.2 | -91 | 45.0 |
| Operating cash flow, MSEK | 78.6 | 95.7 | -18 | -11.7 | -26.0 | -55 | -131.6 | -217.2 | -39 | -153.2 |
| Earnings per share | 1.43 | 2.87 | -50 | 1.10 | 2.95 | -63 | 0.37 | 4.57 | -92 | 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 Q2 Report 2024 (financialhearings.com)
You can also follow and listen to the presentation and the conference call using the below web link:
Call Access (financialhearings.com)
About Nimbus Group
Nimbus Group produces and markets powerboats which includes the brands Alukin, Aquador, Bella, EdgeWater, Falcon, Flipper, Nimbus and Paragon Yachts. Sales are made through dealer networks and the largest markets are the Nordic region, Europe and the USA. During 2023, the Group strengthened its position on the important North American market through the acquisition of the premium powerboat manufacturer EdgeWater Power Boats. In 2023, the Group had sales of SEK 1,898 million and 511 employees. Operations are conducted in Sweden, Finland, Poland, England, Norway and the USA.
Nimbus Group has been listed on Nasdaq Stockholm First North since February 2021. For more information, see www.nimbusgroup.se
Certified Adviser
The Company's Certified Adviser is Carnegie Investment Bank AB (publ)
e-mail: certifiedadviser@carnegie.se
For further information, please contact:
Jan-Erik Lindström, CEO
+46 31 726 77 00
jan-erik.lindstrom@nimbus.se
Rasmus Alvemyr, CFO
+46317267708
rasmus.alvemyr@nimbus.se
This information is inside information that Nimbus Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-07-17 07:30 CEST.
