Nexam Chemical Holding

* Q3 sales lower than expected (-5% vs. ABGSCe)* Major untapped potential in Recycling* Long-term potential intact; EPS positive in '26eQ3 sales softer, impacted by seasonal effectsNexam reported softer than expected sales of SEK 46m, +3% y-o-y and -...

* Sales -5%, adj. EBIT SEK -2m vs. ABGSCe* Seasonal effects impacted Aesthetics segment* Recycling continues to be the star performer; +250% y-o-yQ3 resultsSales came in at SEK 45m (-5% vs. ABGSCe 48m), +3% y-o-y. The company writes that the quarter ...

* Report out on 17 October* Q3e sales SEK 48m, EBIT SEK -0.4m (-2.5m)* Two major Reactive Recycling customers in steady-state productionQ3 expectationsWe estimate Q3 sales of SEK 48m, +8% y-o-y but -12% q-o-q. Q3e should be seasonally weak due to summer...

- Sales -1%, adj. EBIT -2.7m vs. ABGSCe - EBIT lower on higher than expected opex - Recycling continues to be growth driver (+70% q-o-q) Q2 results Nexam reported in line sales of SEK 54m (-1% vs. ABGSCe), +1% y-o-y. Recycling continues to be the fastest...

- Q2e sales of SEK 55m, +1.8% y-o-y - Continued softness in lightweight, Recycling uptrend to continue - Trading at 1.7x-1.2x EV/Sales Q2 expectations We expect Q2 sales of SEK 55m, +2% y-o-y and +11% q-o-q, after three quarters of negative growth. We...

Q1 sales lower than expected due to weak end-markets in lightweight Expect positive EBIT margins in H2'25e Trading at 1.4x-0.9x EV/Sales Sales lower than expected, but gross margin higher Q1 sales were SEK 49m, -7% y-o-y and 7% below our expectations...