Humble Group: Improved profitability ahead - ABG

Sales +1% vs cons, adj. EBITA +1% vs cons
Cons. EBITA estimate revisions slightly positive
Improved gross margin despite headwinds


Q3'24 outcome

The Q3 report was in line with expectations and there were no significant surprises. Q3 sales came in at SEK 1,978m (+2% vs ABGSCe 1,941m, +1% vs cons 1,955m), organic growth 10% (vs 9.0% ABGSCe; vs 8.5% cons), gross margin at 30.7% (vs ABGSCe 31.4%, vs cons 31.5%) and adj. EBITA at 154m (+3% vs ABGSCe 150m, +1% vs cons 153m). Importantly, the company's gross margin improvements are now beginning to materialise in an improved EBITA, and that is positive given the company's capacity-increasing investments in opex.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/humble-group/Equity-research/2024/10/humble-group---improved-profitability-ahead/