Q1 outcome
Sales were SEK 804m (-7% vs. ABGSCe 867m, -9% vs. FactSet cons 880m), down 12% y-o-y, of which organic growth was -13% (ABGSCe -5%). Adj. EBIT was -15m (ABGSCe -9m, cons -5m), for a margin of -1.8% (ABGSCe -1.1%, cons -0.5%), and this excludes an NRI of SEK -6.4m (ABGSCe/cons -10m) from costs related to the mandatory bid by Kingspan. Products & Solutions came in above our expectations on EBIT, but Installation Services was below, largely on very tough winter conditions and a generally soft installations market. The company mentions it is carrying out further cost reductions throughout the group due to the weaker market.
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SENASTE
