Q1 results
Net sales came in at SEK 277m, 7% above our forecast of SEK 259m. At the same time, EBITDA was weaker than we had expected at SEK -10m (ABGSCe SEK 32m). Operating costs amounted to SEK -66m, compared to our forecast of SEK -39m, which explains part of the deviation. In addition, it is likely that the final completion of Öyfjellet resulted in higher costs than we had anticipated. The EBIT of SEK -12m was below ABGSCe at SEK 29m. Operating cash flow was SEK -236m, mainly on a build up of working capital, but the balance sheet remains strong with a net cash position of SEK 55m.
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