Aktieanalys

Ferronordic: EBIT below in Rudd's first full quarter - ABG

ABG Sundal Collier Publicerad: 16 May 08:18

EBIT SEK 21m (ABGSCe 30m, cons. 29m)
We expect cons EBIT to come down by 6-7% for '24-'26e
Trading at 14-9x '24-'25e EV/EBIT on pre-Q1 estimates

Q1 outcome

Sales were SEK 1,172m (-19% vs. ABGSCe 1,440m, -13% vs. FactSet cons 1,345m), and EBIT was SEK 21m (ABGSCe 30m, cons 29m), for a margin of 1.8% (ABGSCe 2.1%, cons 2.1%), and there were no NRIs (ABGSCe/cons 0). Non-cash FX gains reported under net financials led to SEK 70m in net profit (ABGSCe 11m, cons 8m). This was the first quarter with Rudd consolidated for the full three months, and it delivered SEK 60m in EBIT (ABGSCe SEK 68m).

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/ferronordic/Equity-research/2024/5/ferronordic---ebit-below-in-rudds-first-full-quarter/

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