Q1 results
Sales came in at SEK 38m (+20% vs. ABGSC 32m, +23% vs. consensus 31m), +24% y-o-y (+34% organic). EBIT was 9m (+49% vs. ABGSC 6m, +52% vs. consensus 6m), and adj. EBIT was 10m (+70% vs. ABGSC 6m, +74% vs. consensus 6m) for a margin of +27% (ABGSC +19%, consensus +19%). Adj. net income was 9m (+65% vs. ABGSC 6m, +58% vs. consensus 6m) for a margin of +25% (ABGSC +18%, consensus +19%). The company produced lease adj. FCF of 14m, +33% y-o-y. The profit was slightly offset by elevated costs linked to the EU regulatory process, which amounted to SEK 1.3m (~25% of external costs). Overall a strong quarter, where turnover and profit amount to the highest ever in the company's history, and which clearly demonstrates that the underwhelming Q4 revenue was indeed a temporary dip.
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