Q3 results
Q3 sales came in at SEK 622m, up 2% y-o-y but down 9% vs. ABGSCe. Adj. EBITDA came in at SEK 12.4m, down 48% y-o-y and down 69% vs. ABGSCe. Gross margin for Q3 came in at 19.9%, which is 1.5pp lower than we anticipated, driven by pricing lag as well as increasing customer resistance to price increases, according to the report. It is primarily the Aurdel segment that has led to both lower-than-expected sales and margins.