Freemelt: Record quarter for sales & orders as expected - ABG
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Freemelt: Record quarter for sales & orders as expected - ABG

Q2 sales on par with FY'24, below ABGSCe only on delivery timings
Deliveries likely pushed into H2, so limited impact on cons. estimates
Company views Q2 as a breakthrough, optimistic on structural trends


Q2 results

Sales grew 691% y-o-y but were 35% below our estimate (8% below FactSet consensus). This was solely due to delivery timings, with four machines delivered in the quarter, compared to our expectation of six. The remaining two will very likely be delivered in H2 instead. As a result of this EBIT adj. was SEK 7.6m below our estimate (4.3m below consensus). Lease adj. FCF was -18m, bringing the R12m figure to -71m, i.e. 85% of net income. The company ended the quarter with a cash balance of 54m.
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