Q3: weaker top-line but profitability impact mitigated by cost control
Projektengagemang reported slightly weaker than expected results with sales at SEK 220m, declining by 18% y/y. The main reason for lower revenues was lower than expected workforce during the quarter, caused by temporary lay-offs and reduced working hours, which corresponded to ca. 80 full-time positions during Q3. Despite lower sales, costs declined accordingly, and profitability remained at decent levels (EBITA margin 1.1%) in the seasonally small quarter. Civil Eng. & Infra continued with solid utilisation and grew by 11% y/y, while both A&M and Systems were impacted by weaker demand in certain segments.
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