Svedbergs Group Q1: good print, gradually better markets - ABG
Detta är en aktieanalys producerad av tredje part och reflekterar därför nödvändigtvis ej våra åsikter och värderingar
Net sales SEK 596m, +1% vs ABGSCe, +1% vs Factset cons.
EBITA SEK 94m, +2% vs ABGSCe, +5% vs cons
Outlook: Gradually improved markets, benefits from weak USD
Q1 in brief: solid, Sweden recovers quickly
Svedbergs Group reports net sales growth of SEK 696m in Q1'25, for an organic growth of 3.5%. This was +1% vs. ABGSCe and +1% vs Factset cons. By segment, Svedbergs grew -6% y-o-y, still impacted by the lagging primary housing market but significantly stronger than the -17% growth it reported in Q4, Roper Rhodes by +6% (+4% org.), Macro Design by +5%, Cassoe by -1% and Thebalux by +10%. Gross margins improved 140bp y-o-y driven by previous price adjustments. This was the primary reason for 110bp better EBITA margins y-o-y, for EBITA of SEK 94m. This was +2% vs ABGSCe and +5% vs cons. It furthermore paid out a SEK 185m earn-out for Roper Rhodes in Q1.
EBITA SEK 94m, +2% vs ABGSCe, +5% vs cons
Outlook: Gradually improved markets, benefits from weak USD
Q1 in brief: solid, Sweden recovers quickly
Svedbergs Group reports net sales growth of SEK 696m in Q1'25, for an organic growth of 3.5%. This was +1% vs. ABGSCe and +1% vs Factset cons. By segment, Svedbergs grew -6% y-o-y, still impacted by the lagging primary housing market but significantly stronger than the -17% growth it reported in Q4, Roper Rhodes by +6% (+4% org.), Macro Design by +5%, Cassoe by -1% and Thebalux by +10%. Gross margins improved 140bp y-o-y driven by previous price adjustments. This was the primary reason for 110bp better EBITA margins y-o-y, for EBITA of SEK 94m. This was +2% vs ABGSCe and +5% vs cons. It furthermore paid out a SEK 185m earn-out for Roper Rhodes in Q1.