Studsvik

* EBIT adj. SEK 7.2m (9.4m), vs. ABGSCe of SEK 14m* We lower '26e-'27e EBIT adj. by 5-6%* Positive sales and margin trend in FMWT continuesQ3 resultsQ3 sales were SEK 206m, +2% y-o-y, while EBIT adj. was SEK 7.2m (9.7m), -50% below our expectations of...

* Sales -9% & EBIT adj. SEK 7m below vs. ABGSCe* EBIT impacted by SEK +6 m one-off gain from Q3’24 fraud* Underlying customer demand intact, despite a softer quarterQ3 resultsStudsvik reported softer than expected Q3 results. Sales grew +2% y-o-y but...

* Report out on 4 November* Q3e sales of SEK 225m (+12% y-o-y), EBIT adj. SEK 14m (10m)* Higher expected corporate costs & eliminations; segment EBITs intact Q3 expectationsWe expect Q3 sales of SEK 225m, +12% y-o-y (Decommissioning: -1% y-o-y, FM&WM...

Bright spot in FMWT Q2 sales were SEK 228m, -3% y-o-y and flat y-o-y in local currencies, while EBIT adj. was SEK 16m (14m). The highlight of the report was FMWT, which performed strongly both in terms of sales and profitability. Sales grew +9% y-o-y...

Q2 results Sales fell 3% y-o-y and were 7% below our estimate. With a margin of 6.9%, 0.2pp above our estimate, EBIT adj. was 4% below our estimate. EBIT included non-recurring items of SEK 1.9m in total, a retroactive repayment of electricity tax (+...

Q2 expectations Studsvik will report its Q2 on 22 July, and we forecast sales of SEK 246m, +5% y-o-y (Decommissioning +5%, FMWT -0.2%, Scandpower +5%). On EBIT we forecast SEK 16m (14m). We expect the cost savings programme in FWMT to continue to boost...