FULLTEXT DEL 1 AV 1
Kvartalsrapport Q3 2024
===== SIDA 1 =====
SinterCast Results:
Third Quarter 2024
Positive installation activity boosts
full-year outlook
Third Quarter 2024
• Revenue for Period: SEK 32.6 million (SEK 40.3 million). Recurring revenue accounted for 92.3% of the
revenue
• Operating Result: SEK 13.2 million (SEK 14.3 million), yielding 40.4% (35.5%) operating margin
• Earnings per Share: SEK 1.45 per share (SEK 2.00 per share)
• Cashflow from Operations: SEK 14.6 million (SEK 12.2 million), up 20%
• Strong installation outlook: July to October order intake exceeds SEK 9 million, surpassing historical full-
year average for installation revenue
Year-to-Date 2024
• Revenue for Period: SEK 99.8 million (SEK 98.5 million), up 1.4% year-on-year. Recurring revenue
accounted for 94.5% of the revenue
• Operating Result: SEK 33.7 million (SEK 27.1 million), yielding 33.8% (27.5%) operating margin
• Earnings per Share: SEK 3.80 per share (SEK 3.76 per share)
• Cashflow from Operations: SEK 46.4 million (SEK 34.7 million), up 28% following improved operating
results and reduced accounts receivables
• Dividend: Ordinary dividend of SEK 5.50 per share (SEK 5.00 per share) and extraordinary dividend of SEK
0.60 per share (SEK 0.50 per share), equivalent to SEK 43.1 million (SEK 39.0 million), to be paid in two
equal instalments. Second instalment to be paid on 12 November with record date 7 November
• Installed Base: 57 (56) installations, 26 (25) fully automated systems, 23 (24) mini-systems and eight
(seven) tracking systems in 12 (13) countries
Key Facts and Figures
July−September January−September January−December
AMOUNTS IN SEK MILLION, unless otherwise stated 2024 2023 % 2024 2023 2023 2022
Annualised Engine Equivalents, millions 3.5 4.2 -17% 3.8 3.7 3.7 3.5
Recurring revenue* 30.0 37.3 -19% 94.3 93.7 127.0 113.4
Revenue** 32.6 40.3 -19% 99.8 98.5 134.4 118.7
Gross margin, % 74.5 76.4 -2% 73.3 74.2 73.3 73.1
Operating result 13.2 14.3 -8% 33.7 27.1 42.7 30.6
Operating margin, % 40.4 35.5 14% 33.8 27.5 31.8 25.8
Earnings per share, SEK** 1.45 2.00 -27% 3.80 3.76 5.94 4.68
Distributed dividend per share, SEK - - - 3.05 2.75 5.50 5.49
* Recurring revenue from production fees, consumables and software licence fees
** According to IFRS. All other key ratios and share data are defined as Alternative Performance Measures (APMs).
Definition of key ratios can be found after "Key Ratio and Share Data - Group" in this Report.
===== SIDA 2 =====
SinterCast Results:
Third Quarter 2024
Financial Targets and Long-term Growth Outlook
===== SIDA 3 =====
SinterCast Results:
Third Quarter 2024
CEO Message
Near-term reduction in series production; positive growth outlook ahead
Annualised series production in the third quarter finished at 3.5 million Engine Equivalents, approximately 17%
below strong comparables of 4.2 million Engine Equivalents in the year-ago quarter. The third quarter volume was
affected by the combined effects of the previously announced stoppage of a high volume programme in September,
prolonged summer shutdowns at most of the Western customers, and softening of demand for commercial vehicles
in Europe and North America. While the stoppage programme and the softening of the market will continue to affect
the production volume in the nearest quarters, the growth outlook is positive. Benefitting from the continued ramp
of the Traton Group 13 litre engine in 2025, and the start of production of a new 13 litre cylinder block for First
Automotive Works in China, it is expected that the production volume will increase from the current run rate of
approximately 3.5 million Engine Equivalents to reach the annualised five million Engine Equivalent milestone
before the end of 2026.
The lower volume in the third quarter translated into a 19% decrease in year-on-year revenue, to SEK 32.6 million
(SEK 40.3 million). However, proactive reductions in operating costs implemented during second half of 2023 and
early-2024 resulted in a 40.4% operating margin for the third quarter, providing a considerable improvement over
the year ago quarter (35.5%) and exceeding the published long-term target of 38%.
Annualised series production for the January to September period finished at 3.8 million Engine Equivalents,
providing a 2.7% year -on-year increase. Together with increases in consumables shipments and installation
revenue, the year -to-date revenue finished at SEK 99.8 million. Recurring revenue from production royalties,
consumables and software licence fees accounted for 94.5% of the total revenue. Benefitting from reduced
operating costs, the operating result for the year-to-date period was up 24% at SEK 33.7 million (SEK 27.1 million),
providing an operating margin of 33.8% (27.5%).
During the quarter, more than 95% of the series production was accounted for by large vehicles, including
commercial vehicles, pick-up trucks and off-road equipment. With our focus on large vehicles, we estimate that the
improved fuel efficiency of the vehicles that use our technology saved approximately 2.5 million tonnes of CO 2
during the third quarter. This increases our cumulative contribution to more than 66 million tonnes, keeping us on
pace to meet our goal of 100 million tonnes of CO2 reduction by 2028.
Installation activity near all-time high
With order intake of more than SEK 9 million during the July to October period, the outlook for new installation
revenue took another positive step forward. Field activities are currently near an all -time high, with emphasis on
completing as many of the installations as possible before year -end to maximise full-year revenue. While it is not
yet possible to determine how many of the installations will be commissioned before year end, it is clear that the
combined installation revenue in 2024 and 2025 will solidly exceed the historical average of approximately SEK 8
million per year.
===== SIDA 4 =====
SinterCast Results:
Third Quarter 2024
SinterCast is the world’s leading supplier of process control technology for the reliable high volume production of
Compacted Graphite Iron (CGI). Stronger, stiffer and more durable than conventional iron, CGI enables the development of
smaller, lighter and more fuel efficient engines in passenger vehicle, commercial vehicle and industrial power applications. The
use of SinterCast- CGI currently contributes to the reduction of approximately ten million tonnes of CO 2 per year. With 5 7
installations in 12 countries, SinterCast provides sustainable solutions for manufacturing and transportation to the global foundry
and automotive industries. SinterCast is a publicly traded company, quoted on the Small Cap segment of the Nasdaq Stockholm
stock exchange (SINT). For more information: www.sintercast.com
Dr. Steve Dawson
President & CEO
===== SIDA 5 =====
SinterCast Results:
Third Quarter 2024
Financial Summary
Revenue
The revenue for the SinterCast Group relates primarily to income from series production, equipment, and
engineering service.
Revenue Breakdown July−September January−September
(Amounts in SEK million) 2024 2023 2024 2023
Recurring revenue from series production1 30.0 37.3 94.3 93.7
Equipment2 2.2 2.9 4.6 3.9
Engineering service3 0.3 0.2 0.9 0.9
Total 32.6 40.3 99.8 98.5
Number of Sampling Cups shipped 51,825 63,000 153,125 145,600
1. Recurring revenue from production fees, consumables and software licence fees
2 Revenue from sold and leased CGI and Tracking systems and spare parts
3. Revenue from engineering service, demonstrations and test pieces
The July−September 2024 revenue decreased by 19.3% to SEK 32.6 million (SEK 40.3 million). Recurring revenue
from series production decreased by 19.4% amounting to SEK 30.0 million (SEK 37.3 million) and accounting for
92.3% (92.4%) of the total revenue. The total revenue was derived from annualised series production of 3.5 million
(4.2 million) Engine Equivalents, shipment of 51,825 (63,000) Sampling Cups and equipment revenue of SEK 2.2
million (SEK 2.9 million). Engineering Service amounted to SEK 0.3 million (SEK 0.2 million). Exchange differences
had a positive effect of 1% on revenue during the period.
The January−September 2024 revenue increased by 1.4% to SEK 99.8 million (SEK 98.5 million). Recurring
revenue from series production increased by 0.6% , amounting to SEK 94.3 million (SEK 93.7 million) and
accounting for 94.5% (95.2%) of the total revenue. The total revenue includes annualised series production of 3.8
million (3.7 million) Engine Equivalents, shipment of 153,125 (145,600) Sampling Cups and equipment revenue of
SEK 4.6 million (SEK 3.9 million). Engineering Service amounted to SEK 0.9 million (SEK 0.9 million). Exchange
differences had a positive effect of 1% on revenue during the period.
Results
The business activities of SinterCast are best reflected by the Operating Result. This is because the “Result for the
period after tax” and the “Earnings per Share” are influenced by the revaluation of tax assets.
Results Summary July−September January−September
(Amounts in SEK million if not otherwise stated) 2024 2023 2024 2023
Gross margin, % 74.5 76.4 73.3 74.2
Operating result 13.2 14.3 33.7 27.1
Operating margin, % 40.4 35.5 33.8 27.5
Result for the period after tax 10.3 14.2 26.9 26.6
Earnings per share (SEK) 1.45 2.00 3.80 3.76
===== SIDA 6 =====
SinterCast Results:
Third Quarter 2024
The July−September 2024 operating result decreased by SEK 1.1 million to SEK 13.2 million (SEK 14.3 million),
due to the combined effect of a SEK 6 .6 million decrease in gross margin, SEK 3 .4 million decrease in operating
costs and improvement of other operating net cost and income of SEK 2.0 million. The decrease in operating costs
is primarily related to the reduction in headcount following proactive redundancies effected during the second half
of 2023 and early-2024. Other operating costs and income combined improved by SEK 2.0 million, primarily due to
movements in foreign currencies resulting in unrealised revaluation gains of existing hedge contracts. The result
for the period after tax decreased by SEK 3 .9 million to SEK 10.3 million (SEK 14.2 million), primarily due to the
SEK 1.2 million decrease in operating result and the accounted increase in income tax of SEK 2.8 million.
The January−September 2024 operating result increased by SEK 6.6 million to SEK 33.7 million (SEK 27.1
million), due to the combined effect of a SEK 0.1 million increase in gross result and a SEK 5.9 million decrease in
operating costs and increased net cost of other operating cost and income of SEK 0.7 million. The decrease in
operating costs is primarily related to the reduction in headcount following proactive redundancies effected during
the second half of 2023 and early-2024. The result for the period after tax increased by SEK 0.3 million to SEK 26.9
million (SEK 26.6 million), primarily due to the SEK 6 .6 million increase in operating result and the accounted
increase in income tax of SEK 6.5 million.
Income Tax and Deferred Tax Asset
Tax for the January−September 2024 period amounted to SEK 6.7 million (SEK 0.1 million). The Group’s total
carried forward tax losses, remaining to be utilised are calculated to be SEK 214.6 million (248.0 MSEK), resulting
in a deferred tax asset of SEK 44.2 million (SEK 51.1 million). It is estimated that SinterCast will begin to pay
Swedish income tax during approximately late-2027 or early-2028, depending on results and currency rates.
Cashflow, Liquidity and Investments
The January−September 2024 cashflow from operations improved by SEK 11.7 million, compared to the same
period last year, due to increased cashflow before working capital of SEK 4.8 million, following the improved
operating result and a SEK 6.9 million improvement in working capital. The improved working capital since year -
end is primarily due to a SEK 7.7 million improvement in cashflow from accounts receivable. Total investments
amounted to SEK 1.3 million (SEK 5.1 million). Investments primarily related to production tooling for increased
productivity and capacity in the Sampling Cup production. Following the first instalment of the dividend payment of
SEK 21.6 million in May, total cashflow amounted to SEK 21.1 million (SEK 8.9 million). Liquidity on 30 September
2024 was SEK 33.4 million (SEK 23.2 million), plus an overdraft credit facility in the amount of SEK 12.5 million,
providing effective liquidity of SEK 45.9 million. SinterCast currently has no loans.
Cashflow Summary January−September ∆
(Amounts in SEK million if not otherwise stated) 2024 2023 2024 vs 2023
Cashflow from operations, before change in working capital 37.2 32.4 4.8
Change in working capital 9.2 2.4 6.9
Cashflow from operations 46.4 34.7 11.7
Cashflow from investing activities -1.3 -5.1 3.8
Cashflow from financing activities -24.0 -20.7 -3.3
Cashflow total 21.1 8.9 12.1
Liquidity 33.4 23.2
===== SIDA 7 =====
SinterCast Results:
Third Quarter 2024
Risks and Uncertainty Factors
Uncertainty factors for SinterCast include: the timing of OEM decisions for new CGI engines and other components;
adherence to start -of-production dates and ramp projections; the longevity of each engine programme; the
possibility that the volume of existing programmes may decrease or come to end-of -life earlier than expected; the
global economy for new vehicle sales; technology trends and emissions legislation; and, the individual sales
success of vehicles equipped with SinterCast-CGI components.
The increasing geopolitical instability, exacerbated by war and conflict in multiple regions, together with material
shortages, energy costs and global economic uncertainties, constitute the dominant near -term risk factors for the
global foundry and automotive industries. While it is not yet possible to quantify the impact of these factors on the
near-term market development, SinterCast remains confident in the long -term growth of CGI. Other factors that
may influence the market risk for SinterCast and its end-user industries include the renegotiation of international
tariffs and free-trade agreements on vehicle sales, climate change legislation and the associated growth of
alternative powertrain technologies, and the overall demand for goods transportation. The development of AI may
also increase the possibilities to develop potentially competitive technologies or to reverse engineer the SinterCast
technology.
No significant risk of material adjustment to the carrying amounts of assets and liabilities has been identified at the
balance sheet date. For additional risk and uncertainty factor information, see the SinterCast Annual Report.
Organisation
With successful high volume CGI production in customer foundries located in Europe, Asia and the Americas,
SinterCast has established a global organisation with employees and offices in Sweden, the United Kingdom, the
United States, China, Korea, Germany and Portugal. As of 30 September 2024, the Group had 27 (29) employees,
6 (7) of whom are female. Benefitting from accumulated experience and efficiency improvements, SinterCast is well
positioned to support global market activities and to drive the future growth of the company.
Parent Company
SinterCast AB (publ) is the Parent Company of the SinterCast Group, with its registered office located in Stockholm,
Sweden. On 30 September 2024, the Parent Company had 22 (24) employees. The average number of employees
during the period was 22 (25). The majority of the operations are managed by the Parent Company while local
operations in the United Kingdom, United States, Korea and China are managed by the local companies. The
information given for the Group in this report corresponds in all material respects to the Parent Company. However,
the result for the period may differ between the group and the Parent Company due to intercompany transactions
between the Parent Company and its subsidiaries.
Outlook Guidance:
Following the stoppage of a high volume programme in September 2024, the annualised production volume is
expected to decrease by approximately 500,000 Engine Equivalents in the near-term, with 4Q24 being the first full
quarter affected by the stoppage. The loss of volume is exacerbated by a softening of the commercial vehicle
markets in Europe and North America in recent months, resulting in 10~20% volume reductions for most OEMs.
The near-term outlook for SinterCast depends on the depth and duration of the softened commercial vehicle market,
offset by the continued ramp of current programmes and by the start of production of new CGI programmes that
===== SIDA 8 =====
SinterCast Results:
Third Quarter 2024
are expected to launch during the first half of 2025. Overall, SinterCast foresees that the positive series production
pipeline will enable the company to reach the annualised five million Engine Equivalent milestone before the end of
2026. Benefitting from new fuel efficiency legislation in the US in 2027 and in the EU in 2029, the penetration of
CGI in heavy duty commercial vehicles is expected to grow from the current level of 40~50% to more than 80%.
SinterCast maintains the target to post double- digit compounded annual series production growth through 2030
and to reach the annualised seven million Engine Equivalent milestone in 2029.
Installation activity is currently near an all -time high, with emphasis on completing as many of the installations as
possible before year -end to maximise full -year revenue. The ongoing installations and the current discussion
pipeline reinforce the commitment that the combined installation revenue in 2024 and 2025 will solidly exceed the
historical average of approximately SEK 8 million per year.
Following the strong recent results, it is estimated that SinterCast will begin to pay Swedish income tax during
approximately late-2027 or early-2028, depending on results and currency rates.
The Share and Analysts
The SinterCast share has been listed and quoted on the Small Cap segment of the Nasdaq Stockholm stock
exchange, since 26 April 1993. SinterCast share capital is SEK 7,090,133 at par value of SEK 1 per share. ABG
Sundal Collier is the appointed liquidity provider for the SinterCast share.
The following analysts are covering SinterCast:
Henric Hintze at ABG Sundal Collier, henric.hintze@abgsc.se, +46 8 566 294 89
Philip Wendt at Aktiespararna, philip.wendt@aktiespararna.se, +46 8 50 65 15 00
Per Bernhult at Stockpicker, staff@stockpicker.se, +46 8 662 06 69
During August 2024, SinterCast also initiated commissioned coverage with Dagens Industri.
Accounting Principles
The information provided on behalf of the group in this interim report has been prepared in accordance with
Sweden’s Annual Accounts Act and IAS 34 Interim Financial Reporting. The reporting for the Parent Company has
been prepared in accordance with Sweden’s Annual Accounts Act, chapter 9 interim report, and RFR 2. The
accounting policies that have been applied for the group and the Parent Company agree with the accounting policies
used in the preparation of the company’s latest Annual Report.
Fair Value Measurement of Financial Assets and Liabilities
The group has financial assets consisting of derivative instruments (included in other debtors or other creditors)
and commercial papers and fixed income instruments. The fair value of derivative instruments, not traded on an
active market, is based on observable market currency rates. Cash flows are discounted using market interest
rates. Commercial papers and fixed income instruments are traded on an active market and the fair value is
determined by available market prices. These effects are recognised in the profit & loss statement.
Rounding
The total amount shown in tables and statements may not always sum to the same value due to rounding
differences. The primary objective is for each line item to correspond to the source. This may sometimes result in
rounding or truncation differences in the total.
===== SIDA 9 =====
SinterCast Results:
Third Quarter 2024
Alternative Performance Measures are defined and included in this report in the Key Ratio and Share Data tables.
More information of Accounting Policies is included in the Annual Report 2023, pages 48-53.
Material Transactions and Events
No material transactions have taken place between SinterCast and the Board or the Management during the period.
The following press releases were issued during the period:
1 July 2024 – New number of votes and shares
9 July 2024 – SinterCast series production up 13% in first half
21 August 2024 – SinterCast Results April - June 2024
16 September 2024 – Maringá Soldas orders SinterCast technology
24 September 2024 – SinterCast receives new Ladle Tracker order
26 September 2024 – The members of the Nomination Committee for the SinterCast Annual General Meeting 2025
have been appointed
There have been no significant events since the balance sheet date of 30 September 2024 that could materially
change these financial statements. The following press releases were issued after the balance sheet date:
7 October 2024 – SinterCast posts strong production in September
30 October 2024 – Tupy to expand CGI production capacity in Mexico
Dividend Policy and Dividend
The Board’s intention is to continue to provide an ordinary dividend to the shareholders, based primarily on the
cashflow from operations, after investments. In the event that the Board considers that the liquidity exceeds the
amount needed to support the operational requirements and strategic objectives, the Board has the option to
propose an extraordinary dividend or a share buyback to further adjust the liquidity. The first dividend was distributed
in May 2011 for the financial year 2010 and an increasing ordinary dividend has been distributed every year since
then. Since 2019, the dividend has been distributed in two equal instalments. Since the first dividend was provided,
SinterCast has distributed SEK 325.5 million to its shareholders, representing 110% of its operating result over the
period. The cumulative dividend amounts to SEK 46.0 per share.
Dividend 2024
The Annual General Meeting (AGM) of the shareholders decided on an ordinary dividend of SEK 5.50 per share
(SEK 5.00 per share) with an extraordinary dividend of SEK 0.60 (SEK 0.50 per share), representing a distribution
of SEK 43.1 million (SEK 39.0 million) to the shareholders of SinterCast AB (publ) for the financial year 2023. The
dividend will be distributed in two equal payments of SEK 3.05 per share, with the record date 23 May 2024 for the
first payment and 7 November 2024 as the record date for the second payment.
===== SIDA 10 =====
SinterCast Results:
Third Quarter 2024
Share Buyback
In accordance with the resolution from the 2023 AGM, SinterCast initiated a share buyback programme and
acquired a total of 22,601 shares, amounting to SEK 2.4 million. The 2024 AGM decided to cancel the acquired
shares and approved an additional share buyback programme to continue until the next AGM in 2025. The purpose
of the share buyback programme is to optimise the company’s capital structure and thereby to create value for the
shareholders.
Annual General Meeting
The next Annual General Meeting of SinterCast AB (publ) will be held on Tuesday 20 May 2025, at 15:00 at IVA,
Stockholm.
Shareholders wishing to have a matter considered at the Annual General Meeting should provide written
submissions to the Board of Directors at agm.registration@sintercast.com
or: SinterCast AB (publ), Kungsgatan 2,
641 30 Katrineholm, Sweden, at least seven weeks prior to the Annual General Meeting for the proposal to be
included in the notice of the meeting. Further details on how and when to register will be published in advance of
the Annual General Meeting.
Nomination Committee
The Nomination Committee has been appointed based on the ownership structure as of 31 August 2024. Ulf
Stenbeck is the Chairman of the committee. The other members of the committee are Torbjörn Gustafsson, David
Walton, fund manager at Canaccord Genuity Wealth Management and Einar Ahlström, current Board member. The
committee also includes Robert Dover, Chairman of the Board of SinterCast, as an adjunct member, with no voting
rights. Shareholders who wish to submit proposals to the Nomination Committee may send an e-mail to:
nomination.committee@sintercast.com.
===== SIDA 11 =====
SinterCast Results:
Third Quarter 2024
Information
Interim Reports Publication Date
October–December 2024 and Full Year Results 2024 08:00 CET on 19 February 2025
January–March 2025 08:00 CET on 30 April 2025
April–June 2025 08:00 CET on 20 August 2025
July–September 2025 08:00 CET on 5 November 2025
This report has been reviewed by the company’s Auditors.
Stockholm 6 November 2024
For further information please contact:
Dr. Steve Dawson
President & CEO
SinterCast AB (publ)
Office: +46 150 794 40
Mobile: +44 771 002 6342
e-mail: steve.dawson@sintercast.com
website: www.sintercast.com
Corp. Id. 556233-6494
This press release contains information SinterCast AB (publ) is obliged to make public pursuant to the EU Market
Abuse Regulation. This information was submitted for publication, through the agency of the President & CEO Dr.
Steve Dawson, at 08:00 CET on 6 November 2024.
===== SIDA 12 =====
Translation from the Swedish original
Review report
To the Board of Directors of SinterCast AB (publ.)
Corp. id. 556233-6494
Introduction
We have reviewed the condensed interim financial information (interim report) of SinterCast AB (publ.) as of 30
September 2024 and the nine-month period then ended. The Board of Directors and the Managing Director are
responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Annual
Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review.
Scope of review
We conducted our review in accordance with International Standard on Review Engagements ISRE 2410 Review of
Interim Financial Information Performed by the Independent Auditor of the Entity. A review of interim financial information
consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying
analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance
with International Standards on Auditing and other generally accepted auditing practices and consequently does not
enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit.
Accordingly, we do not express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared,
in all material respects, for the Group in accordance with IAS 34 and the Annual Accounts Act, and for the Parent
Company in accordance with the Annual Accounts Act.
Stockholm 6 November 2024
KPMG AB
Jonas Eriksson
Authorized Public Accountant
===== SIDA 13 =====
SinterCast Results:
Third Quarter 2024
Income Statement – Group
July−September January−September January−December
Amounts in SEK million 2024 2023 2024 2023 2023 2022
Revenue 32.6 40.3 99.8 98.5 134.4 118.7
Cost of goods sold -8.3 -9.5 -26.7 -25.4 -35.9 -31.9
Gross result 24.3 30.8 73.1 73.0 98.5 86.7
Cost of sales and marketing -7.5 -8.3 -24.2 -25.8 -34.7 -31.4
Cost of administration -2.7 -2.1 -7.5 -7.3 -9.9 -10.2
Cost of research & development -1.6 -4.8 -5.6 -10.0 -12.5 -10.7
Other operating costs & income 0.7 -1.3 -2.2 -2.9 1.2 -3.8
Operating result 13.2 14.3 33.7 27.1 42.7 30.6
Financial income 0.0 0.0 0.1 0.0 0.2 0.1
Financial costs -0.1 -0.1 -0.3 -0.3 -0.4 -0.4
Financial net -0.1 -0.1 -0.2 -0.3 -0.1 -0.3
Result before income tax 13.1 14.2 33.5 26.8 42.6 30.3
Income tax -2.8 0.0 -6.7 -0.1 -0.4 2.9
Result for the period 10.3 14.2 26.9 26.6 42.1 33.1
Result attributable to:
Equity holder of the parent company 10.3 14.2 26.9 26.6 42.1 33.1
Non-controlling interests - - - - - -
Earnings per share, SEK 1.45 2.00 3.80 3.76 5.94 4.68
Earnings per share, diluted, SEK 1.45 2.00 3.80 3.76 5.94 4.68
Number of shares at the close of the period, thousands 7,067.5 7,090.1 7,067.5 7,090.1 7,078.8 7,090.1
Average number of shares, thousands 7,067.5 7,090.1 7,070.5 7,090.1 7,088.9 7,090.1
Average number of shares, diluted 7,067.5 7,090.1 7,070.5 7,090.1 7,088.9 7,090.1
Statement of Result and Other Comprehensive Income – Group
July−September January−September January−December
Amounts in SEK million 2024 2023 2024 2023 2023 2022
Result for the period 10.3 14.2 26.9 26.6 42.1 33.1
Other comprehensive income
Items may be reclassified to the income statement
Translation differences, foreign subsidiaries 0.0 -0.2 0.2 -0.2 -0.6 0.2
Other comprehensive income, net of tax 0.0 -0.2 0.2 -0.2 -0.6 0.2
Total comprehensive income for the period 10.3 14.0 27.0 26.4 41.5 33.3
Total comprehensive income attributable to:
Shareholder of the parent company 10.3 14.0 27.0 26.4 41.5 33.3
Non-controlling interests - - - - - -
===== SIDA 14 =====
SinterCast Results:
Third Quarter 2024
Balance Sheet – Group
30 Sep 30 Sep 30 Jun 30 Jun 31 Dec 31 Dec
Amounts in SEK million 2024 2023 2024 2023 2023 2022
ASSETS
Intangible assets 1.3 1.9 1.4 4.3 1.7 4.7
Tangible assets* 8.2 8.7 9.2 7.4 8.7 5.8
Other long term receivables 0.3 0.4 0.4 0.7 0.4 0.7
Deferred tax asset 44.2 51.1 47.0 51.1 50.9 51.1
Total fixed assets 54.0 62.1 58.0 63.5 61.6 62.2
Inventory 13.9 15.6 14.8 18.2 14.1 16.7
Short-term receivables 35.9 35.4 33.2 27.7 43.6 37.4
Short term deposits and cash at bank and in hand 33.4 23.2 19.2 13.5 12.3 14.2
Total current assets 83.2 74.3 67.2 59.4 70.0 68.3
Total assets 137.2 136.3 125.2 122.9 131.6 130.5
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity 96.4 99.7 86.2 85.4 113.6 111.9
Long term liabilities* 0.4 0.8 0.7 0.9 0.5 1.5
Current liabilities* 40.4 35.9 38.3 36.5 17.5 17.1
Total liabilities 40.8 36.7 39.0 37.4 17.9 18.5
Total shareholders' equity and liabilities 137.2 136.3 125.2 122.9 131.6 130.5
* Includes right of use assets (SEK 1.5 million), long term lease liability (SEK 0.2 million) and short term lease liabilities (SEK 1.4 million)
===== SIDA 15 =====
SinterCast Results:
Third Quarter 2024
Statement of Changes in Equity – Group
Amounts in SEK million
Share
Capital
Paid in
Capital
Exchange
Differences
Cumulative
Results Total Equity
Opening balance 1 January 2023 7.1 44.9 1.6 58.4 111.9
Other - - - 0.3 0.3
Total comprehensive income
Result for the period - - - 26.6 26.6
Other comprehensive income - - -0.2 - -0.2
Total comprehensive income - - -0.2 26.6 26.4
Dividend - - - -39.0 -39.0
Closing balance 30 September 2023 7.1 44.9 1.4 46.3 99.7
Opening balance 1 January 2024 7.1 44.9 1.0 60.6 113.6
Total comprehensive income
Result for the period - - - 26.9 26.9
Other comprehensive income - - 0.2 - 0.2
Total comprehensive income - - 0.2 26.9 27.0
Repurchase own shares - - - -1.2 -1.2
Dividend - - - -43.1 -43.1
Closing balance 30 September 2024 7.1 44.9 1.2 43.3 96.4
===== SIDA 16 =====
SinterCast Results:
Third Quarter 2024
Cashflow Statement – Group
July−September January−September January−December
Amounts in SEK million 2024 2023 2024 2023 2023 2022
Operating activities
Operating result 13.2 14.3 33.7 27.1 42.7 30.6
Adjustments for items not included in the cash flow
Depreciation 1.1 3.6 3.1 5.5 6.4 4.3
Other -0.1 -0.2 0.1 0.0 0.2 0.2
Unrealised exchange rate differences 0.3 0.4 0.5 0.3 0.0 0.9
Received interest 0.0 0.0 0.1 0.0 0.2 0.1
Paid interest -0.1 -0.1 -0.3 -0.3 -0.4 -0.4
Paid income tax 0.0 0.0 -0.1 -0.1 -0.4 -0.1
Total cashflow from operating activities 14.3 18.0 37.2 32.4 48.7 35.6
before change in working capital
Change in working capital
Inventory 0.9 2.6 0.2 1.0 2.5 -6.2
Operating receivables -2.7 -7.8 7.7 2.0 -6.1 -5.7
Operating liabilities 2.1 -0.6 1.3 -0.7 0.4 1.8
Total change in working capital 0.3 -5.8 9.2 2.4 -3.2 -10.2
Cashflow from operations 14.6 12.2 46.4 34.7 45.5 25.5
Investing activities
Acquisition of intangible assets 0.0 0.0 0.0 -0.5 -0.5 -0.6
Acquisition of tangible assets -0.1 -1.7 -1.3 -4.6 -5.1 -1.1
Cashflow from investing activities -0.1 -1.7 -1.3 -5.1 -5.6 -1.7
Financing activities
Payment lease liability -0.4 -0.8 -1.3 -1.2 -1.6 -1.6
Dividend 0.0 0.0 -21.6 -19.5 -39.0 -35.5
Repurchase own shares 0.0 0.0 -1.2 0.0 -1.2 -
Cashflow from financing activities -0.4 -0.8 -24.0 -20.7 -41.8 -37.1
Exchange rate differences in cash and cash equivalents 0.0 0.0 0.0 0.0 0.0 0.0
Cashflow for the period 14.1 9.7 21.1 8.9 -1.9 -13.3
Cash - opening balance 19.2 13.5 12.3 14.2 14.2 27.5
Cash - closing balance* 33.4 23.2 33.4 23.2 12.3 14.2
* The cash and cash equivalents comprise short-term deposits and cash at bank and in hand
===== SIDA 17 =====
SinterCast Results:
Third Quarter 2024
Key Ratio and Share Data – Group
July−September January−September January−December
Amounts in SEK million 2024 2023 2024 2023 2023 2022
Key Ratio
Revenue* 32.6 40.3 99.8 98.5 134.4 118.7
Gross margin, % 74.5 76.4 73.3 74.2 73.3 73.1
Operating result 13.2 14.3 33.7 27.1 42.7 30.6
Operating margin, % 40.4 35.5 33.8 27.5 31.8 25.8
Result for the period* 10.3 14.2 26.9 26.6 42.1 33.1
Solidity, % 70.3 73.1 70.3 73.1 86.4 85.8
Shareholders' equity 96.4 99.7 96.4 99.7 113.6 111.9
Capital employed 96.4 99.7 96.4 99.7 113.6 111.9
Total assets 137.2 136.3 137.2 136.3 131.6 130.5
Return on shareholders' equity, % 11.2 15.3 25.6 25.2 37.3 29.4
Return on capital employed, % 11.2 15.3 25.6 25.2 37.3 29.4
Return on total assets, % 7.8 10.9 20.0 20.0 32.1 25.4
Employees
Number of employees at the end of the period 27 29 27 29 28 32
Data per Share
Earnings per share, SEK* 1.45 2.00 3.80 3.76 5.94 4.68
Dividend per share, SEK - - 3.05 2.75 5.50 5.00
Cashflow from operations per share, SEK 2.06 1.72 6.54 4.90 6.42 3.59
Share price at the end of the period, SEK 110.0 100.0 110.0 100.0 102.0 114.0
* According to IFRS. All other key ratios and share data are defined as Alternative Performance Measures (APMs).
Gross margin %
Gross results as percentage of revenue
Operating margin %
Operating results as percentage of revenue
Solidity %
Adjusted shareholders' equity expressed as percentage of total
assets end of period
Equity per share
Shareholders' equity divided by the average number of shares
Capital employed
Total assets less non-interest bearing liabilities
Return on shareholders' equity %
Result for the period as a percentage of average shareholders'
equity. Quarterly values are not annualised
Return on capital employed %
Result for the period as a percentage of average capital employed
Quarterly values are not annualised
Return on total assets %
Result for the period as a percentage of total average assets.
Quarterly values are not annualised
Average number of shares
Weighted average of the number of shares outstanding for the
period
Average number of shares adjusted for dilution
Weighted average of the number of shares for the period adjusted
for dilution
Earnings per share
Result for the period divided by the average number of shares
Earnings per share, diluted
Result for the period divided by the average number of shares
adjusted for dilution
Dividend per share
Dividend divided by the number of shares
Cashflow from operations per share
Cashflow from operations divided by the number of shares
Share price at the end of the period
Latest paid price for the SinterCast share at NASDAQ Stockholm
Value presented as "0.0"
Amount below SEK 50,000
Value presented as "-"
No amount applicable
===== SIDA 18 =====
SinterCast Results:
Third Quarter 2024
Income Statement – Parent Company
July−September January−September January−December
Amounts in SEK million 2024 2023 2024 2023 2023 2022
Revenue 32.5 39.5 99.3 97.3 133.3 118.3
Cost of goods sold -8.7 -9.9 -28.3 -27.0 -38.4 -34.2
Gross result 23.8 29.6 71.0 70.3 94.9 84.1
Cost of sales and marketing -7.6 -7.4 -23.9 -25.8 -34.6 -31.4
Cost of administration -2.7 -2.2 -7.5 -7.2 -9.7 -10.2
Cost of research & development -1.6 -4.8 -5.6 -10.0 -12.5 -10.7
Other operating costs & income 1.2 -1.1 -2.6 -3.6 1.3 -5.3
Operating result 13.1 14.0 31.3 23.7 39.4 26.4
Financial income 0.0 0.0 0.1 0.0 0.2 0.1
Financial costs -0.3 -0.2 -0.7 -0.5 -0.7 -0.2
Financial net -0.2 -0.2 -0.6 -0.5 -0.5 -0.1
Result before income tax 12.8 13.8 30.8 23.2 38.9 26.3
Income tax -2.6 0.0 -6.3 0.0 -2.1 2.9
Result for the period 10.2 13.8 24.4 23.2 36.8 29.2
Earnings per share, SEK 1.44 1.95 3.45 3.27 5.20 4.12
Earnings per share, diluted, SEK 1.44 1.95 3.45 3.27 5.20 4.12
Number of shares at the close of the period, thousands 7,067.5 7,090.1 7,067.5 7090.1 7,078.8 7,090.1
Average number of shares, thousands 7,067.5 7,090.1 7,070.5 7090.1 7,088.9 7,090.1
Average number of shares, diluted 7,067.5 7,090.1 7,070.5 7090.1 7,088.9 7,090.1
Statement of Result and Other Comprehensive Income – Parent Company
July−September January−September January−December
Amounts in SEK million 2024 2023 2024 2023 2023 2022
Result for the period 10.2 13.8 24.4 23.2 36.8 29.2
Total comprehensive income for the period 10.2 13.8 24.4 23.2 36.8 29.2
===== SIDA 19 =====
SinterCast Results:
Third Quarter 2024
Balance Sheet – Parent Company
30 Sep 30 Sep 30 Jun 30 Jun 31 Dec 31 Dec
Amounts in SEK million 2024 2023 2024 2023 2023 2022
ASSETS
Intangible assets 1.3 1.9 1.4 4.3 1.7 4.7
Tangible assets 6.6 6.6 7.1 5.3 6.8 3.0
Other long term receivables 2.2 2.2 2.2 2.3 2.2 2.3
Deferred tax asset 42.7 51.1 45.3 51.1 49.0 51.1
Total fixed assets 52.7 61.8 56.1 63.0 59.7 61.1
Inventory 13.6 15.4 14.5 17.9 13.9 16.3
Short-term receivables 36.6 34.9 33.6 27.2 43.2 38.2
Short term deposits and cash at bank and in hand 31.7 20.4 17.3 11.2 10.6 11.8
Total current assets 82.0 70.6 65.4 56.3 67.7 66.4
Total assets 134.7 132.4 121.5 119.3 127.4 127.5
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity 73.4 80.8 63.2 67.0 93.3 96.6
Current liabilities 61.3 51.6 58.2 52.3 34.1 30.9
Total liabilities 61.3 51.6 58.2 52.3 34.1 30.9
Total shareholders' equity and liabilities 134.7 132.4 121.5 119.3 127.4 127.5
===== SIDA 20 =====
SinterCast Results:
Third Quarter 2024
Statement of Changes in Equity – Parent Company
Restricted Equity Unrestricted Equity
Amounts in SEK million
Share
Capital
Statutory
Reserve
Reserve
Developm.
Costs
Share
Premium
Reserve
Results
brought
Forward
Results
for the
Year
Total
Equity
Opening balance 1 January 2023 7.1 9.5 3.9 35.3 11.5 29.2 96.6
Appropriation of last year's result - - - - 29.2 -29.2 -
Capitalised development costs - - 0.5 - -0.5 - -
Depreciation, development costs - - -3.2 - 3.2 - -
Total comprehensive income - - - - - 23.2 23.2
Dividend - - - - -39.0 - -39.0
Closing balance 30 September 2023 7.1 9.5 1.2 35.3 4.4 23.2 80.8
Opening balance 1 January 2024 7.1 9.5 1.1 35.3 3.3 36.8 93.3
Appropriation of last year's result - - - - 36.8 -36.8 -
Capitalised development costs - - - - - - -
Depreciation, development costs - - -0.3 - 0.3 - -
Total comprehensive income - - - - - 24.4 24.4
Repurchase own shares - - - - -1.2 - -1.2
Dividend - - - - -43.1 - -43.1
Closing balance 30 September 2024 7.1 9.5 0.8 35.3 -3.8 24.4 73.4