Q4'23 report
Litium reported an ARR of SEK 72.3m (-3% vs. ABGSCe 74.7m), net sales of SEK 18.5m (-1% vs. ABGSCe 18.6m), EBITDA of SEK 4.6m (+99% vs. ABGSCe 2.3m), EBIT of SEK 0.9m (vs. ABGSCe -1.4m), and net profit of SEK 0.9m (vs. ABGSCe -1.4m). With respect to ARR, the report came in just below our expectations. However, we are once again positively surprised by the company's beat on EBITDA, as Litium appears to benefit more from its cost rationalisations and operating leverage than we had previously assessed.