Bildkälla: Stockfoto

Duni Q2: Better late than never, albeit soft - SEB

Duni missed our sales and operating income estimates by -8% and -22%, respectively. Organic growth was -8% due to lower volumes in both segments, albeit against a tough comp. While gross margin improved y/y by 1.4pp, operating margin fell 1.6pp y/y to 8%. A result of lower volumes and higher raw materials and freight costs. Our first take is that FY24E EBIT estimates will decrease mid-single-digits and shares to underperform on the back of the report.

Duni missed our sales and operating income estimates by -8% and -22%, respectively. Organic growth was -8% due to lower volumes in both segments, albeit against a tough comp. While gross margin improved y/y by 1.4pp, operating margin fell 1.6pp y/y to 8%. A result of lower volumes and higher raw materials and freight costs. Our first take is that FY24E EBIT estimates will decrease mid-single-digits and shares to underperform on the back of the report.
Börsvärldens nyhetsbrev
ANNONSER