Bildkälla: Stockfoto

Coor: Headwinds in Denmark behind miss - ABG

Adj. EBITA 1% vs ABGSC, -7% vs cons
Weaker demand in Denmark to drive 2% neg. revisions
Stable performance in the rest of the business


Q3 details

Sales SEK 2,943m (-2% vs ABGSC 3,000m and -2% vs cons 3,009m), adj. EBITA SEK 120m (1% vs ABGSC 118m and -7% vs cons 129m), EBIT SEK 73m (-18% vs ABGSC 89m and -28% vs cons 102m), net profit SEK 17m (-54% vs ABGSC 37m and -63% vs cons 46m), organic growth 0% vs ABGSC 1%. Cash conversion was weak, in part due to working capital: FCF SEK 26m (171m). A weaker report as expected, but even weaker in Denmark which has been hit by weaker volumes from the public sector and management said that it does not expect any recovery in the near future (Denmark sales -5%, EBITA -12% vs ABGSC).
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