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
    }
  }
}


impact-coatings-growth-on-hold-waiting-for-system-orders-abg

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Impact Coatings operates in vacuum-based surface coating. The company develops and sells services, coating processes, and industrial coating systems with a focus on hydrogen, fuel cells, and autonomous safety functions. Offered service models and products are designed for the new markets in which the company operates. The customers are mainly component and system manufacturers in the hydrogen industry and the automotive industry.

Impact Coatings

* '25e-'27e sales cut by 20-14% on sluggish market and delayed orders* Rights issue of ~SEK 87m announced, 2.7% guaranteed* Broadening product applications to support diversified growth Q3 fairly...

* '25e-'27e sales cut by 20-14% on sluggish market and delayed orders* Rights issue of ~SEK 87m announced, 2.7% guaranteed* Broadening product applications to support diversified growth Q3 fairly in line, rights issue announced Impact Coatings delivered Q3 sales of SEK 14m (vs. ABGSCe of 10m), with no machine deliveries in the quarter (in line with estimates). EBIT was SEK -12m, the same as ABGSCe. Cost-cutting measures introduced in Q2 are showing effect, with opex coming in below expectations. Moreover, management said more work is underway to further lower the cost base. To strengthen liquidity, the company announced yesterday its intention to launch a rights issue of ~SEK 87m at SEK 1.5 per share, of which 2.7% is guaranteed. Assuming the rights issue is fully subscribed, it will result in a dilution effect of ~40%. Estimate changes and outlook We lower '25e-'27e sales by 20-14% and total '25e-'27e EBIT by SEK 24m. The sluggish hydrogen market continues to affect the investment decisions of Impact Coatings' customers, resulting in three consecutive quarters without any machine deliveries. While the company remains confident that underlying demand is intact, customer hesitancy in placing machine orders has led us to lower our '25-'26 estimates for Coating Systems, as we expect this caution to persist in the near term. We now expect one machine delivery for '25 and two for '26 (previously two/four). System sales needed to mitigate liquidity risk While the positive trajectory in Coating Services is encouraging, we believe a recovery in System sales is necessary to mitigate the company’s long-term liquidity risk. To diversify growth and reduce reliance on traditional hydrogen applications, the company is broadening its offering to new areas, such as solid-oxide fuel cells for data centres, a gas-fueled but hydrogen-ready segment, offering nearer-term commercial potential. The company is currently trading at 2.0x-1.6x '25e-'27e EV/sales.