Continued stable financial performance with 15% growth and an adjusted EBITDA of 38%
Second quarter 2024
- Net sales were SEK 123.2m (108.2), with growth of 13.9% and 15.7% in local currency.
- EBITDA of SEK 40.7m (30.5), corresponding to an EBITDA margin of 33.0% (28.2).
- Adjusted EBITDA of SEK 43.2m (32.0), corresponding to an adjusted EBITDA margin of 35.1% (29.6).
- Operating profit of SEK 27.3m (11.2), corresponding to an operating margin of 22.2% (10.4).
- Adjusted operating profit of SEK 29.8m (17.4), corresponding to an adjusted operating margin of 24.2% (16.1).
- Capitalized work on own account amounted to SEK 10.8m (10.4).
- In a year-on-year comparison, currency translation had a negative impact of SEK 1.9m on net sales and a negative impact of SEK 2.1m on operating profit for the period.
- Cash flow from operating activities amounted to SEK 35.7m (29.4).
January - June 2024
- Net sales were SEK 243.0m (215.9), with growth of 12.6% and 15.0% in local currency.
- EBITDA of SEK 87.7m (55.8), corresponding to an EBITDA margin of 36.1% (25.8).
- Adjusted EBITDA of SEK 92.3m (59.0), corresponding to an adjusted EBITDA margin of 38.0% (27.3).
- Operating profit of SEK 59.5m (22.7), corresponding to an operating margin of 24.5% (10.5).
- Adjusted operating profit of SEK 64.1m (30.6), corresponding to an adjusted operating margin of 26.4% (14.2).
- Capitalized work on own account amounted to SEK 21.1m (19.8).
- In a year-on-year comparison, currency translation had a negative impact of SEK 5.2m on net sales and a negative impact of SEK 4.3m on operating profit for the period.
- Cash flow from operating activities amounted to SEK 68.4m (55.3).
Second quarter in brief
- IAR initiates strategic partnership with AI Sweden
- New safety-certified C-STAT is available for RISC-V, Arm and Renesas RL78 architectures
Key events after the second quarter
- Date of accession for new CEO Cecilia Wachtmeister set for August 16.
Contacts IR
Hanna Laurentz, Head of Corporate Communications, IAR
Tel: +46 735 12 51 37; E-mail: investorrelations@iar.com?
This information is information that IAR Systems 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 2024-08-15 13:00 CEST.
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