I.A.R Systems

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.