Serneke delivered a mixed set of numbers for Q1, with the group EBIT margin slightly below our expectation (0% versus our estimate of 0.7%) However, construction and project development posted margins slightly ahead of our expectations. Both segments...
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Serneke delivered a mixed set of numbers for Q4, with sales of SEK 2.4bn down 4% y/y and 13% better than we had expected, and an EBIT margin of -6.8% compared with our 1.2% forecast. The margin shortfall was partly due to the construction segment, which...
Serneke delivered a mixed set of numbers, with Q3 sales of SEK 2.1bn (up 4% y/y and 2% better than we had expected) and an EBIT margin of -1.9% compared with our 1.2% forecast. The margin fell short of our estimate partly due to the construction segment...
Serneke delivered a solid set of numbers with Q2 sales of SEK 2.7bn (up 22% y/y) and an EBIT margin of 2.3%, 90 bp better than we expected. On the negative side, order intake was SEK 1.6bn, 29% below our forecast, suggesting a downward trend in the backlog...
Serneke started 2022 on a good note, with Q1 sales of SEK 2bn (up 5% y/y) and an EBIT margin of 1.8% (up 20 bp y/y). Despite the solid report, we make a number of negative estimate revisions, as we believe that market sentiment for the construction industry...