Berner Industrier: Improvement work in T&D weighs on margin - ABG

Orders -2%, sales +1%, EBITA -18% vs. ABGSCe
Unspecified non-recurring items related to improvement work in T&D
Weak demand improved somewhat towards end of Q3


Q3 results

Order intake came in at SEK 201m (-2.1% vs. ABGSCe 205m), -17% y-o-y, but picked up towards the end of the quarter, and quotation activity was higher. Sales came in at SEK 217m (+1.3% vs. ABGSCe 215m), -2.8% y-o-y (-3.3% org.). EBITA was SEK 15m (-18% vs. ABGSCe 18m), for a margin of +6.9% (ABGSCe +8.5%). Profitability suffered from unspecified non-recurring costs in the T&D segment related to work to improve the operations in particularly Christian Berner AB, which got a new CEO on November 1, and the implementation of a new business system in one of the Norwegian companies. E&E gross margin decreased y-o-y due to business mix.

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