contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


careium-back-to-growth-but-soft-on-earnings-abg

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Careium offers security solutions such as security alarms, smart sensors and digital visits, with its own alarm center that is staffed 24/7. The product offering includes security alarms, sensors and accessories such as cameras and electronic locks. The company targets private individuals, municipalities and care organizations, and is active in several countries in Europe. The company is headquartered in Malmö, Sweden.

Careium

* Q3 sales 3% below our ests. at SEK 214m, for 9.4% org. growth* Adj. EBIT SEK 19m vs. ABGSCe 22m* Trading at 9x-7x '25e-'26e EV/EBITA adj.Solid growth, EBIT weighed down by financial leasesCareium...

* Q3 sales 3% below our ests. at SEK 214m, for 9.4% org. growth* Adj. EBIT SEK 19m vs. ABGSCe 22m* Trading at 9x-7x '25e-'26e EV/EBITA adj.Solid growth, EBIT weighed down by financial leasesCareium delivered sales of SEK 214m (-3% vs ABGSCe 221m), corresponding to y-o-y organic growth ex. FX of 9.4% (-1.9pp vs ABGSCe 11.3%). Segment wise, service sales was SEK 147m (-11% vs ABGSCe 166m), and product sales was SEK 66m (20% vs ABGSCe 55m). UK &amp; Ireland was the primary growth driver (17%), albeit from light comps (-19% Q3'24). Sales in Sweden were negatively impacted by the accounting of financial leases, which had an effect of SEK 21.9m, leading to negative sales growth in the Nordics of -14.2% y-o-y. Excluding the impact of the classification of financial leases, Careium comments that Nordics net sales would have increased 11%. The gross margin increased to 44.2% (0.1pp vs ABGSCe 44.1%). Opex came in at SEK -80m (7% vs ABGSCe -75m). EBIT amounted to SEK 14m (-36% vs ABGSCe 22m), however, affected by a one-off of SEK 4.6m related to the recent change of CEO. Adj. EBIT was therefore SEK 19m (-15% vs. ABGSCe 22m), for a margin of 8.8% (-1.3pp vs ABGSCe 10.1%), vs. 8.2% Q3'24.Cash flow and outlookFCF in Q3 amounted to SEK 14m, vs. ABGSCe SEK 23m. This is an increase of SEK 10.9m y-o-y. FCF was below our expectations, mainly due to the lower than expected earnings. Capex increased to SEK -20.4m vs -10.3m in Q3'24, as a lower number of contracts were classified as financial leases. We are encouraged by the strong sales in UK and Germany. The new CEO also commented that Careium is poised to participate in market consolidation, but should tread lightly when looking for M&amp;A opportunities. Moreover, the company reiterates its targets for 2025. From Q1'26, the impact of financial lease accounting is expected to be significantly reduced.Valuation and conference call detailsOn our pre-Q3 estimates, the share is trading at 9x-7x ‘25-'26e EV/EBITA adj. The negative mechanical effect for consensus '25e-'26e EBIT should be within a range between low teens to h.s.d. In addition, we expect more details about Q3 on the conference call at 10.30 CET.