Probi: Analyst - ABG

51% beat on EBITDA in Q3
New strategy and mid-term financial targets
Earnings revised up for '23e, but down for '24e-'25e


Earnings beat driven by strong sales and good cost control

Probi reported sales of SEK 156m (ABGSCe SEK 143.5m) in Q3, equal to an organic growth rate of +5.9% (ABGSCe +1.2%), driven by positive development in all regions during the quarter. The stronger than expected sales development and lower than expected opex resulted in a 51% beat on EBITDA vs ABGSCe (SEK 28.2m vs ABGSCe of SEK 18.7m), for a margin of 18.1% (ABGSCe 13.0%)

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/probi/Equity-research/2023/10/probi---analyst/