Hanza: Very Strong Growth – Margins Lagging Our Expectations - Carlsquare

This morning, HANZA reported its Q1 2022 earnings. Below is our first impressions on the report.

Organic growth of 26 per cent exceeded our estimates of some 16 per cent. The performance is very strong for both Main markets as well as Other markets

EBITA improved to SEK 41m (22) but was 8 per cent lower than our expectations. Continued elevated cost levels due to capacity constraints, covid and expansion program in Other markets, as well as low profitability in newly acquired Beyer has hampered margin development

HANZA expects expansion programs to end in Q2 and the result in Other markets to normalize during this year

HANZA says the general economy is difficult to predict but that it gets frequent new requests from companies affected by disruptions.

We intend to return with a complete follow-up on the Hanza Q1 report shortly

Länk till analysen i sin helhet: https://www.carlsquare.com/sv/first-impression-hanza-q1-2022-very-strong-growth-margins-lagging-our-expectations/