Recycling momentum continues
Nexam reported sales of SEK 54m, +1% y-o-y and -1% vs. ABGSCe. Reactive Recycling continued its strong growth trajectory (+70% q-o-q) and now accounts for >10% of Nexam's revenue. We expect this positive trend to continue in the coming quarters, offsetting the weaker performance of other areas of the business—such as lightweight, which has recently been affected by weak end markets (-22% y-o-y). EBIT was lower at SEK -2.8m (vs. ABGSCe SEK -0.2m) due to increased operating costs, primarily due to proactive investments in Central and Eastern Europe to facilitate growth in these regions.
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