Sales -1% and adj. EBIT -18% vs. ABGSCe Operating cash flow significantly better than expected Likely slightly negative consensus estimate revisions
ANNONS
Q1'25 report
The Q1 report was in line with expectations on sales, but a bit lower than expected on EBIT. Sales slightly improved y-o-y (+1.4% org. growth y-o-y, vs. ABGSCe 2%) and amounted to SEK 937m (-1% vs. ABGSCe). Adj. EBIT came in at SEK 37m (-18% vs. ABGSCe). The gross margin of 28.6% was 1pp below our estimate due to temporary promotional discounts, among other things. Cash flow from operations of SEK 35m (vs. ABGSCe -70m) as Midsona tied up far less working capital than we had anticipated.
