Nilörngruppen: Q3 beat: much better than feared - ABG

Sales +9% vs. ABGSCe, EBIT +75% vs. ABGSCe
Organic growth of -10%, better than ABGSCe -20%
Order bookings SEK 182m, +9% q-o-q


Q3'23 impressions

Nilörngruppen reports Q3'23 sales of SEK 215m (+9% vs. ABGSCe 197m), gross profit SEK 97m (+18% vs. ABGSCe 83m), EBIT SEK 21m (+75% vs. ABGSCe 12m), net profit SEK 13m (+86% vs. ABGSCe 7m). Order bookings came in at SEK 182m, implying a decrease of 21% y-o-y but a q-o-q increase of 9%. The gross margin was significantly better than we had anticipated, but is still within a historical range. The company has also managed to reduce inventories, and that is positive in this environment. Our general impression of this report is that demand has stabilised, albeit at a low level, and that there is a certain degree of visibility despite overstocked clients.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/nilorngruppen/Equity-research/2023/10/nilorngruppen---q3-beat-much-better-than-feared/