Interim Report third quarter 2024
Plejd AB (publ)
Third Quarter of 2024
Third Quarter (July–Sep 2024)
Net sales amounted to TSEK 153,148 (119,895), which is an increase of 27.7 % compared to the same period last year.
The gross margin amounted to 53.5 % (52.8).
Operating profit before depreciation (EBITDA) amounted to TSEK 44,038 (20,821), which corresponds to an operating margin before depreciation of 28.8 % (17.4).
Operating profit (EBIT) amounted to TSEK 26,048 (6,149), which corresponds to an operating margin of 17.0 % (5.1).
Earnings per share before dilution amounted to SEK 1.82 (0.39).
(Comparative figures in parentheses refer to the corresponding period in the previous year.)
Jan–Sep 2024
Net sales amounted to TSEK 458,343 (351,519), which is an increase of 30.4 % compared to the same period last year.
The gross margin amounted to 52.9 % (55.5).
Operating profit before depreciation (EBITDA) amounted to TSEK 131,473 (70,512), which corresponds to an operating margin before depreciation of 28.7 % (20.1).
Operating profit (EBIT) amounted to TSEK 80,480 (30,195), which corresponds to an operating margin of 17.6 % (8.6).
Earnings per share before dilution amounted to SEK 5.54 (2.07).
(Comparative figures in parentheses refer to the corresponding period in the previous year.)
Comments from the CEO
The third quarter shows continued strong growth in both revenue and profitability. New for this quarter is that we are including growth in installations in the report, which we consider is the best indicator of the underlying organic growth in the company.
It’s now been approximately a year since we launched our first luminaire, and we are very pleased with the installation rate, which is fully in line with our expectations. Our first luminaire, DWN-01, is currently the second most installed product after DIM-01, the universal dimmer, which was the first product we launched. All the luminaires we’ve released have shown strong initial growth, and the ceiling light CCL-01, which we launched in the second quarter of this year, is no exception.
In the third quarter of last year, we communicated for the first time that we are aiming for an optimized cost base, which, along with increased revenue, will provide leverage in profitability. We can clearly see the effect, as the cost base for the first three quarters has leveled out compared to the same period last year, while we are showing strong growth across all markets.
We plan to continue this trend and further increase the leverage in profitability over the coming years. We are now looking forward to launching the thermostat TRM-01 in the fourth quarter, a product with great potential in Norway, and the universal dimmer VRI-03, which we believe has great potential in parts of the European market.
I thank the team for a well performed 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 and other smart products. By focusing on the user experience, Plejd makes smart solutions easy and available to everyone.