Q1'23 impressions
Nilörngruppen reports Q1'23 sales of SEK 221m (+7% vs. ABGSCe 207m), gross profit SEK 95m (+6% vs. ABGSCe 90m), EBIT SEK 17m (-14% vs. ABGSCe 20m), net profit SEK 11m (-26% vs. ABGSCe 15m). Order bookings decreased by 21% y-o-y and that also implies a sequential decline of 3%. The gross margin was marginally weaker than we had anticipated, but is still within a historical range. Moreover, net financial costs were a bit higher than we expected, leading to a somewhat larger deviation on PTP and net profit.