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Careium Q2 Revenue Jumps 24% on UK and Norway Growth, Margins Narrow
Swedish care technology company Careium announced a 24.3% increase in second-quarter net sales, driven by new customer acquisitions in the United Kingdom and Norway. The company's revenue model, which is based on multi-year service contracts, provides a stream of recurring revenue.
Q2 Performance Details
Careium reported the following key metrics for the second quarter, according to its official release:
- Net Sales: SEK 251.3 million
- Gross Margin: 42.5%
- Operating Margin: 6.0%
- Earnings Per Share: SEK 0.41
- Free Cash Flow: SEK 4.7 million
The company's gross margin declined during the period, a development attributed to a specific installation project in the UK. The SEK 5.5 million project carried a limited margin, which weighed on the overall profitability figure.
AdBalance Sheet Update
Subsequent to the end of the quarter, Careium settled a SEK 64 million hybrid loan. The settlement involved a cash repayment of SEK 35 million and a write-off of the remaining SEK 29 million, a move that strengthens the company's balance sheet.
Careium did not issue specific financial guidance for the upcoming quarter or the full fiscal year. The company's performance highlights successful expansion in key markets, balanced by the margin impact of specific project costs.