Key takes from the Q2’21 report
Organoclick reported its Q2 results this morning, which were clearly below our expectations. It was also below the company’s expectations, and it saw several issues during the second quarter that were partly out of its control, resulting in lower sales and increasing costs, a large share of which we deem to be non-recurring. Sales came in at SEK 40m, 11% below our expectations of SEK 45m. The main reason for this was the FW segment. With soaring wood prices and limited timeframes for price hikes, the company has been forced to push volumes from Q2 to Q3 – meaning that volumes should be relatively unhurt in the long run. The second surprise was the margins in GCM, which largely explained the low profitability (SEK -4m vs. ABGSCe of SEK 2m). With the company reaching production bottlenecks in the wait for its purchased automation equipment, it saw an increase in production staff of up to 70% during a 2-3 month period, putting a dent in margins.
LÄS MER
