Freemelt: Developing customers - ABG
Deliveries and sales in line, somewhat lower costs than expected
Update on development studies and stages, interest seems strong
eMELT-iD sales timeline slower, first eMELT-iM hopefully in late '25
Q3 results
As expected, two Freemelt ONE machines were delivered in the quarter, and sales amounted to SEK 8.7m (8.2m), with 86% stemming from machine sales. Adj. EBIT was SEK -6.3m (-5.8m), which was better than the SEK -12m we had expected, mainly driven by lower external costs in the quarter, which came down from what we now believe to have been elevated levels. FCF was SEK -21m (-13m), and the company ended the quarter with a cash balance of SEK 26m, compared to R12m FCF of SEK -73m.
Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/Freemelt/Equity-research/2024/11/freemelt---developing-customers/