- Weak on sales but higher gross margin
- More restrucrings to come
- Estimates likely up 5-10% on adj. EBIT
Q3 results
Net sales came at SEK 130.4m (-4% vs. ABGSCe 136.3m) with organic growth of -2% (ABGSCe -1.0%). The gross margin was 46.8% (ABGSCe 44.5%). Q3 adj. EBIT of SEK 15.3m (+45% vs. ABGSCe 10.5m). The beat on adj EBIT was driven by higher gross margin and lower opex. The negative deviation on sales was mainly related to lower instrument sales in Q3. Instrument sales in Q3 was SEK 28.4m (-40% vs. ABGSCe 47m) and total consumables sales was SEK 87.8m (+11% vs. ABGSCe 78.9m).
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