Speedy revealed 6.5% YoY growth in Q2 2024 consolidated revenue to BGN 125.6m. Core revenue increased to BGN 122.6m as revenues from the domestic market (BGN 62.1m) grew by 15.8% YoY, while international sales decreased to BGN 60.5m (-3.3% YoY). The number of parcels delivered during the quarter amounted to 19.3m (+17.6% YoY), while the average revenue generated per parcel amounted to BGN 6.35, which is 10.3% lower YoY. Meanwhile, operating expenses increased by 8.1% YoY to BGN 105.8m and cons EBITDA decreased 1% YoY to BGN 19.7m. With 19.5% YoY higher depreciations, net profit fell 20.8% YoY to BGN 8m, with 2.2 p.p. YoY net margin deterioration. H1 2024 consolidated revenue registered 13.2% YoY growth to BGN 253.1m. OPEX (BGN 208.2m) increased 12.2%, as compensations were up by 16.2% YoY (BGN 55.8m). EBITDA for the period was up by 18.2% YoY to BGN 44.9m, while cons net profit grew by 17.1% YoY to BGN 21.4m. Net margin improved slightly to 8.5%, while 6mo TTM EPS for the year amounted to BGN 7.92. On the balance sheet, IB debt decreased slightly since a year ago to BGN 95.4m (IB debt to assets of 33.6%), while CFO jumped 130% YoY to BGN 18.3m.