OssDsign: Solid Q1 - ABG
Sales in line with expectations
EBIT (loss) 10% better
Estimates likley to be revised up 3-5% on EBIT '24e
Q1 results
OssDsign reported a solid star to the year with Q1 sales of SEK 27m (0% vs ABGSCe SEK 27m, no consensus) and Q1 EBIT of SEK -12m, 10% above (lower loss) vs ABGSCe of -13.3m. The deviation on EBIT was due to higher gross margin and lower opex. Q1 gross margin was 93.7% vs ABGSCe at 92.0%. The core opex items came in marginally lower than expected, but the sales commission level was higher than expected, at SEK --13.2m, equal to 48.9% of sales (ABGSCe 45%).
Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/ossdsign/Equity-research/2024/5/ossdsign---solid-q1/