OrganoClick: Q4'23 results fast comment - ABG

Sales -6% and adj. EBIT SEK -1.5m vs. ABGSCe
Growth driven by GC&MP and FW, while NW&FT underperformed
Liquidity of SEK 23.8m vs. R12m lease adj. FCF of SEK -17.2m


Q4 results

Sales came in at SEK 28m (-6% vs. ABGSC 30m), +29% y-o-y (+29% organic). EBIT was -6m (-32% vs. ABGSC -5m), and adj. EBIT was -6m (-32% vs. ABGSC -5m) for a margin of -22% (ABGSC -16%). Adj. net income was -8m (-28% vs. ABGSC -6m) for a margin of -27% (ABGSC -20%). The company produced lease adj. FCF of 1m, -51% y-o-y, and ended the quarter with a cash balance of 10.7m vs. R12m FCF -17.2m. Sales growth was driven by the Green coatings & maintenance products and Functional wood segments, with Nonwoven & fiber technologies underperforming our expectations. Cash flow was better and the company now has cash and credit facilities totalling SEK 23.8m, including a 10m increase granted after the end of the period.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/organoclick/Equity-research/2024/2/organoclick---organoclick-q423-results-fast-comment/