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Midsona: Soft report on easy comps - ABG

Sales SEK 893m, -10% ABGSCe, -8% vs. cons
Adj. EBITDA -20% vs. ABGSCe & -27% vs. cons.
Cons. estimates likely down by high-single-digits

Midsona (Sponsored) - Q3'21 report: Net sales SEK 893m (-10% vs ABGSC 994m and -8% vs cons 973m), Adj. EBITDA SEK 80m (-20% vs ABGSC 101m and -27% vs cons 109m), Adj. EBIT SEK 42m (-31% vs ABGSC 61m and -32% vs cons 62m), EBIT SEK 48m (-21% vs ABGSC 61m and -23% vs cons 62m), Net profit SEK 31m (-18% vs ABGSC 38m and -23% vs cons 41m).

While Midsona’s results showed an improvement compared to the company’s Q3’20 report, cons. estimates have apparently not come down enough – we would expect today’s result to render out in negative cons. estimate changes of some high single-digits or low double-digits.
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