Bergs Timber: Miss due to lower Wood protection - ABG

EPS and EBITDA 29% and 27% below ABGSCe
Joinery and Pellets better than expected
Strong cash flow removes nearly all the net debt


Largest share of group EBITDA (74%) came in lower

Q3 EBITDA of SEK 46m was 27% below ABGSCe at SEK 63m, mainly due to a lower result from the Wood Protection segment (SEK -34m vs. ABGSCe SEK 6m). The Sawn wood segment was also somewhat lower, and since these two are the largest segments (74% of L12m sales), the group result was impacted negatively as well. Joinery (17% of L12m sales) and Other incl. eliminations (3%) produced an EBITDA of SEK 37m, which made up 80% of group EBITDA. This was driven by Doors and windows and by Pellets sales.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/bergs-timber/Equity-research/2022/10/bergs-timber---miss-due-to-lower-wood-protection/