Bildkälla: Stockfoto

B3 Consulting Group: Parrying lower utilisation with more cost cuts - ABG

Sales -6% vs. cons, adj. EBIT -18% vs. cons
Drop in utilisation lowered sales by ~9% y-o-y alone
Margins prioritised over growth


Q1'24 report

Q1 was a tough quarter as utilisation was low and net recruitment was negative. B3 generated Q1'24 net sales of SEK 281m (-6% vs. FactSet cons, -4% vs. ABGSCe) and adj. EBIT SEK ~11m (-18% vs. cons, -37% vs. ABGSCe). In the context of both macroeconomic data and large scale surveys for IT consultants indicating persistent adverse conditions, a weak set of numbers is partly expected. That said, the numbers still constitute a miss compared to both ABGSC and consensus expectations, and suggest that the operating leverage in B3 is more significant than previously expected.
Börsvärldens nyhetsbrev
ANNONSER