Aktieanalys

Q-Free: Better growth and margins - ABG

ABG Sundal Collier Publicerad: 10 Jul 2023 07:26

- Q2: Higher growth and better margins...
- driven by both Tolling and Traffic Mgmt.
- Continues to deliver on ARR strategy

Q2 Revenue up 36% y-o-y and higher-than-expected margins
Q-Free reported Q2 revenues of NOK 290m, 28% above ABGSC at NOK 227m. This corresponds to 36% y-o-y growth and is driven by both Tolling and Traffic Management. Gross profit was NOK 173m (60% margin), +35% above ABGSC at NOK 128m (56% margin). EBITDA came in at NOK 33m, above our estimate of NOK 11m. Capex was NOK -17m, largely in line with our estimate of NOK -16m. As such, EBITDA-capex was NOK 16m, vs. ABGSC at NOK -5m.

Länk till analysen i sin helhet: https://cr.abgsc.com/contentassets/a26a3b33e11b4b25869a6b243b3e988e/pdf/better-growth-and-margins.pdf

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