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Seafire Q2: Adj. EBITA in line with SEB estimates, strong cash flow - SEB

Seafire delivered sales and earnings in line with our expectations. Borö-Pannan isolated explains the negative year-over-year development for the group. Strong cash flow, supported by NWC release, resulted in sequentially lower leverage. Management expects continued weak demand during H2/24, although it saw signs of stabilisation during Q2/24. The Q2/24 numbers do not warrant any changes to our estimates.

Seafire delivered sales and earnings in line with our expectations. Borö-Pannan isolated explains the negative year-over-year development for the group. Strong cash flow, supported by NWC release, resulted in sequentially lower leverage. Management expects continued weak demand during H2/24, although it saw signs of stabilisation during Q2/24. The Q2/24 numbers do not warrant any changes to our estimates.
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