SinterCast: Revaluation of hedge contracts weigh on EBIT - ABG

Strong growth, only slightly below our high expectations
-4.6m revaluation-of-hedge-contracts effect on EBIT
Mid-year programme stoppage only temporary growth-setback


Q1 results

Sales came in at SEK 32m (-3.3% vs. ABGSCe 33m), +21% y-o-y. Annualised EEs produced were 3.9m (-2.5% vs. ABGSCe 4.0m), +18% y-o-y. Sampling cups sold were 44,600 (-5.1% vs. ABGSCe 47,000), +36% y-o-y. EBIT was SEK 7.4m (-34% vs. ABGSCe 11m), for a margin of +23% (ABGSCe +34%). EBIT adj. for revaluation of hedge contracts was SEK 12m (+6.8% vs. ABGSCe 11m), for a margin of +37% (ABGSCe +34%). EPS adj. came in at SEK 1.5 (-4.5% vs. ABGSCe 1.6), +68% y-o-y. FCF lease adj. came in at SEK 15m (+48% vs. ABGSCe 10.0m), +145% y-o-y. Results came in slightly below our expectations, but still mark a solid quarter with strong y-o-y growth in both sales and EBIT.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/sintercast/Equity-research/2024/4/sintercast---revaluation-of-hedge-contracts-weigh-on-ebit/