Q3 results
Sales came in at SEK 29m (-12% vs. ABGSC 33m), -14% y-o-y (-14% organic). Adj. EBIT was -3m (-317% vs. ABGSC -1m) for a margin of -10% (ABGSC -2%). The company produced lease adj. FCF of -4m, and ended the quarter with a cash balance of 4.3m vs. R12m FCF -11.1m, and SEK 25m in unutilised bank overdraft facilities. The miss was driven by weak performance in the NW&FT segment, which faced intensified headwinds from the soft restaurant and hotel markets, forcing the implementation of some price reductions, as fossil-based alternatives fell in price.
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