Q3'23 report
Litium reported an ARR of SEK 73.2m (-1% vs. ABGSCe 73.8m), net sales of SEK 16.5m (+1% vs. ABGSCe 16.4m), EBITDA of SEK 3.2m (+75% vs. ABGSCe 1.8m), EBIT of SEK -0.5m (vs. ABGSCe -1.9m), and net profit of SEK -0.5m (vs. ABGSCe -1.9m). With respect to ARR, the report was in line with expectations once again. The migration effect amounted to SEK -0.2m on ARR, meaning that an adjusted ARR would amount to SEK 73.4m. We are positively surprised by the company's beat on EBITDA (again), as the company has benefited from its operating leverage and cost rationalisations.