Q4 details
Lower sales and earnings vs. consensus, but good cash flow. Sales came in at SEK 1,774m (-1% vs. ABGSCe, -3% vs. cons), +7% y-o-y of which -6% organically (ABGSCe 0%, cons +1%, +3% Q3'24), driven by lower volumes in Sweden. Adj. EBITA grew +2% y-o-y to SEK 169m (-7% vs. ABGSCe, -8% vs. cons), for a margin of 9.5% (ABGSCe 10.1%, cons 10.1%, 10.0% Q4'23) driven by weak margins in Sweden (held back by a not quantified credit loss provision) compensated by solid margins in Norway and strong margins in Europe. FCF was strong, at ~130% of EBITA (~40% in Q3), while gearing was lower q-o-q at 2.7x (2.9x) and 2.5x pro forma (2.7x).
Aktuellt
SENASTE
