Orthex

On Investor Day, the focus is on the companies as they each share their updates.

Orthex's Q3 results were stronger than we expected, driven by developments in the Nordic countries.

After the varied revenue development in the early part of the year, our attention is particularly drawn to the revenue of the reporting period.

Orthex’s Q2 report was reassuring regarding European growth after a weak start to the year, but sales in the Nordics developed surprisingly sluggishly. Despite the revenue decline, the company improved its profitability, which we consider a good performance on paper.

We expect modest sales growth in the Nordics, but the weakness of individual larger customers in export markets is expected to have pressured group-level revenue into a decline, as in Q1.

13:20

The operating environment has been challenging for Consumer Goods Companies.

Alexander Rosenlew, CEO, talks about Orthex as an Investment.