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Eksterne analyser

Midsona: Decent operating delivery - ABG

Midsona

Dette er en ekstern analyse og afspejler ikke nødvendigvis vores perspektiv eller værdier.

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Sales -1% and adj. EBIT -18% vs. ABGSCe
Operating cash flow significantly better than expected
Likely slightly negative consensus estimate revisions


Q1'25 report

The Q1 report was in line with expectations on sales, but a bit lower than expected on EBIT. Sales slightly improved y-o-y (+1.4% org. growth y-o-y, vs. ABGSCe 2%) and amounted to SEK 937m (-1% vs. ABGSCe). Adj. EBIT came in at SEK 37m (-18% vs. ABGSCe). The gross margin of 28.6% was 1pp below our estimate due to temporary promotional discounts, among other things. Cash flow from operations of SEK 35m (vs. ABGSCe -70m) as Midsona tied up far less working capital than we had anticipated.
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