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Third party research

Midsona: Earnings beat trend continues - ABG

Midsona

This is a third party research report and does not necessarily reflect our views or values

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Sales 0% and adj. EBIT +13% vs. ABGSCe
Operating cash flow SEK 98m, vs ABGSCe SEK 6m
Minor positive consensus estimate revisions


Q4'24 report

The Q4 report was in line with expectations on sales, but stronger than expected on EBIT. Sales declined slightly y-o-y (-3.4% org. decline y-o-y, vs. ABGSCe -3.5%) and amounted to SEK 961m (0% vs. ABGSCe). Adj. EBIT came in at SEK 36m (+13% vs. ABGSCe). The adj. gross margin of 29% was a bit better than our estimated ~28%, due to the ongoing SKU rationalisation. Cash flow from operations of SEK 98m (vs. ABGSCe 6m) because the company has tied up less working capital for Q4 than we had anticipated.
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