SyntheticMR Q1: Still struggling although Combinostics had a good start - SEB
Bildkälla: Stockfoto

SyntheticMR Q1: Still struggling although Combinostics had a good start - SEB

SyntheticMR Q1 showed sales growth of -20% y/y, coming in 9% below expectations. EBIT excluding non-recurring items was SEK -8m compared to SEB expecting SEK -5m. Recently acquired Combinostics showed positive development with 9% ARR growth q/q, while the SyMRI continues to be negatively by US weakness. FCF was only -1m, benefiting from positive WC contribution. Our first take is for 2025 sales estimates to come down by high-single digits.

SyntheticMR Q1 showed sales growth of -20% y/y, coming in 9% below expectations. EBIT excluding non-recurring items was SEK -8m compared to SEB expecting SEK -5m. Recently acquired Combinostics showed positive development with 9% ARR growth q/q, while the SyMRI continues to be negatively by US weakness. FCF was only -1m, benefiting from positive WC contribution. Our first take is for 2025 sales estimates to come down by high-single digits.
Börsvärldens nyhetsbrev