Q2 2024 Revenio Group Oyj Earnings Call Transcript
Key Points
- Revenio Group Oyj (FRA:R0V) reported a strong Q2 with net sales of EUR25.4 million, up 14.2% from the previous year.
- The company's EBITDA increased by 25.6%, indicating strong operational performance.
- Sales growth was particularly strong in the US, Europe, Middle East, Africa, and APAC regions.
- The company launched a new product, iCare TONOVET Pro, which is seeing positive sales momentum.
- Revenio Group Oyj maintained a strong cash flow position, with net cash from operations reaching EUR6.75 million in Q2.
- The company had to write off EUR730,000 related to non-strategic capitalizations, impacting financial results.
- Despite overall growth, the adjusted EBIT showed a slight decline compared to the previous year.
- Personnel expenses are expected to grow due to increased bonus accruals, potentially impacting future profitability.
- There is uncertainty regarding the timing and cost of clinical trials, which could affect financial outcomes in the second half of the year.
- The competitive landscape, particularly in tonometers, is seeing aggressive pricing from competitors, which could pressure margins.
Good afternoon from Sunny, Helsinki and welcome to Revenio Group earnings call. My name is Jouni Toijala. I'm the Group CEO. And with me, we have here as well our group CFO, Robin Pulkkinen. Today we are going to go through the highlights of the Q2. So I'm going to go through those.
Then Robin is going to cover the finance sales and the shareholder structure change plus the finance sales guidance. So let's jump to the Q2. So a good second quarter for us exactly according to the plan. Net sales, EUR25.4 million, so up 14.2% from the last year Q2 and the currency-adjusted growth was 13.5%. So we got a bit of a tailwind from the US dollar. Operating profit EUR5.3 million, 20.6% from the net sales, up 12.6%. We had the write off regarding to Ventica here. So Robin is going to go through the adjusted numbers bit more in detail.
EBITDA really good level, so up 25.6% and as well as in the Q1. So Q2 net cash from operations was extremely good. So EUR6.75 million and earnings per share up to 0
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