Q4: Sales -8% y-o-y, adj. EBITA margin of 5.2% (7.3%)
Q4'23 was another underwhelming quarter for Projektengagemang (PE) as net sales of SEK 231m (252m) was down 8% y-o-y. EBITA was SEK 6m (16.4m) and was affected by costs of SEK 6.1m associated with layoffs. Adjusting for those, EBITA was SEK 12.1m for a margin of 5.2% (7.3%). The company took an uncomfortable but necessary decision to let go of 60 employees as the market environment turned negative again in Q4. 30 of those employees had to leave in Q4 and 30 will leave in H1'23. There have also been some management changes lately, with especially the former CEO Helena Hed stepping down to pursue other opportunities. In her absence, the CFO Liselotte Haglind has been promoted to acting CEO as the board evaluates its options.
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