Public Sector business area delivered net sales that were notably higher than we had estimated.
Housing Companies business area sales declined 9.7% while we had estimated flat sales.
Corporations business area sales declined slightly more than we had estimated, on the other hand Building Technology grew at even more rapid pace than we projected.
Operating profit in Q3 amounted to EUR 3.4m (EUR 4.8m in Q3/23), in line with our estimate (EUR 3.4m) at a margin of 3.9% (Q3/23: 5.3%, Evli: 4.0%).
EPS in Q3 amounted to EUR 0.31 (EUR 0.47 in Q3/23), also in line with our estimates (Evli est. EUR 0.32)
The order backlog at the end of Q3 was EUR 250.4m (EUR 247.3m in Q3/23), growing 1.3% y/y. Order intake was EUR 64.8m in Q3 (Q3/23: EUR 23.2m).
Order intake was significantly stronger compared to last year, order backlog stays at a good level.
Free cash flow amounted to EUR 1.7m (Q3/23: EUR 7.1m) as capital was tied into working capital.
Guidance for 2024 (unchanged): Operating result for 2024 will be in the range of EUR 9–12 million
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