Bildkälla: Stockfoto

Studsvik: Solid Q2 but delays a risk for H2 - ABG

• Decommissioning and Scandpower excel...
• ...but are overshadowed by delays within F&MT
• '23e-'25e EBIT revised down 11-2%

Q2: Organic sales flat y-o-y, EBIT margin 5.6% (4.0%)
Studsvik reported mixed Q2 numbers with sales of SEK 214m (203m) where the y-o-y improvement stemmed from favourable FX movements. This was 5% ahead of ABGSCe mainly explained by higher demand and higher realised prices within Decommissioning and better licence sales within Scandpower than expected. The demand within Decommissioning is higher than the supply of engineers with the right qualifications, which should lead to further profitability improvements for Studsvik even though growth in volumes could be somewhat muted. Unfortunately, Studsvik had to delay work within F&MT as it was not granted an environment permit in time and now needs to reschedule that work for '24 instead. This caused a SEK 6m hit on EBIT, which was SEK 12m (8.3m) in Q2, 17% below ABGSCe.
Börsvärldens nyhetsbrev
ANNONSER