Bildkälla: Stockfoto

Berner Industrier: Industrial recovery pushed forward - ABG

Q4e: orders flat, sales -2%, EBITA margin -2.9pp y-o-y
EU PMI remains below 50, push forward recovery
Estimates: '25e-'26e sales down 5%, EBITA down 9%


Q4 expectations

For Q4, we expect order intake of SEK 212m, in line with last year, and sales of SEK 230m, down 2% y-o-y with the T&D segment continuing to drive the decline. On the EBITA margin, we have 3.8% (6.7%), with the decline driven by tough comps in E&E and the soft sales volumes making it difficult for the T&D segment to leverage its fixed costs to a satisfactory degree.
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