I-tech: Growth outlook remains solid - ABG
Q3: Sales SEK 41m, +27% y-o-y, adj. EBIT margin 27% (25%)
Raise '24e-'26e sales and EBIT adj. by 4-3% and 10-7%, respectively
Looking into new growth verticals
Another solid quarter
Q3 sales were SEK 41m, up +27% y-o-y (+30% org., -3% FX). EBIT was SEK 9.4m (8.1m) for a margin of 23% (25%), while EBIT adj. was SEK 11m for a margin of 27%. Lease adj. FCF was SEK 11m (17m). The operating margin was impacted by extra costs related to the ongoing regulatory process, the recruitment of the new CEO and a ramp-up in the R&D department. The company also experienced an increase in working capital, primarily due to prepayments to suppliers. Nevertheless, the company maintained its good cash conversion and strong cash balance.
Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/i-tech/Equity-research/2024/10/i-tech---growth-outlook-remains-solid/