Q4'23 impressions
Nilörngruppen reports Q4'23 sales of SEK 204m (+7% vs. ABGSCe 191m), gross profit SEK 91m (+11% vs. ABGSCe 82m), EBIT SEK 9m (+18% vs. ABGSCe 8m), net profit SEK 6m (+37% vs. ABGSCe 4m). Order bookings came in at SEK 256m, implying an increase of +12% y-o-y and a q-o-q increase/decrease of +41%. The gross margin was once again better than we had anticipated, yet still within a historical range. Working capital continues to trend down to historical levels, suggesting that the destocking is proceeding in line with our expectations. Most importantly, the order bookings appear to have rebounded significantly, and that is positive for visibility.