Bildkälla: Stockfoto

Systemair Q3 2023/24: Initial take - Redeye

Redeye expected a little more in terms of top-line and gross profits. However, costs are well contained and Systemair generates a solid cash flow of SEK380m after investments in the quarter. Management remains rather optimistic on the outlook as they see a high activity in the market. We will lower our forecasts somewhat, at least for the very near-term perspective, mainly as the European market appears rather soft.

Redeye expected a little more in terms of top-line and gross profits. However, costs are well contained and Systemair generates a solid cash flow of SEK380m after investments in the quarter. Management remains rather optimistic on the outlook as they see a high activity in the market. We will lower our forecasts somewhat, at least for the very near-term perspective, mainly as the European market appears rather soft.
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