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Interim Report Second Quarter of 2024

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Second Quarter (April–June 2024)

  • Net sales amounted to TSEK 146,194 (110,328), which is an increase of 32.5 % compared to the same period last year.
  • The gross margin amounted to 53.4 % (57.4).
  • Operating profit before depreciation (EBITDA) amounted to TSEK 41,712 (21,232), which corresponds to an operating margin before depreciation of 28.5 % (19.2).
  • Operating profit (EBIT) amounted to TSEK 24,906 (7,947), which corresponds to an operating margin of 17.0 % (7.2).
  • Earnings per share before dilution amounted to SEK 1.69 (0.53).

(Comparative figures in parentheses refer to the corresponding period in the previous year.)

Half-year (Jan–June 2024)

  • Net sales amounted to TSEK 305,195 (231,624), which is an increase of 31.8 % compared to the same period last year.
  • The gross margin amounted to 52.6 % (56.9).
  • Operating profit before depreciation (EBITDA) amounted to TSEK 87,435 (49,691), which corresponds to an operating margin before depreciation of 28.6 % (21.5).
  • Operating profit (EBIT) amounted to TSEK 54,430 (24,047), which corresponds to an operating margin of 17.8 % (10.4).
  • Earnings per share before dilution amounted to SEK 3.72 (1.69)

(Comparative figures in parentheses refer to the corresponding period in the previous year.)

Comments from the CEO

The second quarter shows continued strong growth driven by our new product category with luminaires. Different from the same period last year where the installation rate decreased, we see another second quarter with installations at normal levels. Installations are higher than during the first quarter despite net sales being lower, which is explained by the high stocking by wholesalers and electricians during the first quarter.

We also see a continued improvement in profitability through our strategy of keeping an optimized cost mass relative to a strong growth in revenues.

Highlights of the quarter were three new product launches and an additional new product category, in the form of sun protection with the first product JAL-01. We expect this product and product category to drive our expansion in Europe further, where sun protection is often more important than lighting control. The Netherlands, Germany, Spain, and Switzerland are all primary markets for JAL-01.

We are launching the next volume product in our luminaire product category in the form of the ceiling luminaire CCL-01, which we believe will become a given choice among our electricians in the future.

At the same time, we are launching the wireless puck WIN-01, which we are convinced has great potential. It enables wireless control from almost all button types on the market, making it easier for electricians to more flexible solve cable routing issues.

We continue our journey with a strong second quarter, which lays the base for continued good growth. With both a new volume product in our luminary series and an exciting new category aimed at our expansion in Europe, I thank the team for a well completed quarter.

Babak Esfahani

CEO

For further information

Phone: +46 (0) 10 207 89 01

E-mail: investor@plejd.com

About the company

Plejd is a leading Nordic supplier of smart lighting controls. By focusing on the user experience, smart lighting controls are made easy and available to everyone.

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