SRV Group: Weaker than expected profitability - Evli
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SRV Group: Weaker than expected profitability - Evli

SRV's net sales in Q3 amounted to EUR 159.7m, quite in line with our estimate of EUR 163.4m. Operative EBIT fell to EUR 1.3m (Evli EUR 3.4m) driven by lower volumes revenue recognized nearly exclusively from contracting. New orders amounted to EUR 150.1m, and the backlog remained flat q/q at EUR 931m.

SRV's net sales in Q3 amounted to EUR 159.7m, quite in line with our estimate of EUR 163.4m. Operative EBIT fell to EUR 1.3m (Evli EUR 3.4m) driven by lower volumes revenue recognized nearly exclusively from contracting. New orders amounted to EUR 150.1m, and the backlog remained flat q/q at EUR 931m.
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