Q1 results
Q1 sales of SEK 4,225m (-2% vs. ABGSCe 4,306m), -7% y-o-y. Gross profit was SEK 160m (-5% vs. ABGSCe SEK 169m), -8% y-o-y, while EBIT was SEK 45m (-10% vs. ABGSCe 49m), -17% y-o-y. The gross margin of 3.78% contracted from 3.91% in Q4, driven by an unfavourable sales mix and profitability-enhancing initiatives. The miss in terms of EBIT was driven by lower sales, which was not fully offset by lower-than-expected opex.
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