contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


impact-coatings-preparing-for-market-recovery-abg

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Impact Coatings operates in vacuum-based surface coating. The company develops and sells services, coating processes, and industrial coating systems with a focus on hydrogen, fuel cells, and autonomous safety functions. Offered service models and products are designed for the new markets in which the company operates. The customers are mainly component and system manufacturers in the hydrogen industry and the automotive industry.

Impact Coatings

* '25e-'27e sales cut by 6-1%* Market softness persists, delaying customer decisions* Cost-cutting initiatives in placeQ2 resultsImpact Coatings delivered Q2 sales of SEK 6.5m (vs. ABGSCe 11m...

* '25e-'27e sales cut by 6-1%* Market softness persists, delaying customer decisions* Cost-cutting initiatives in placeQ2 resultsImpact Coatings delivered Q2 sales of SEK 6.5m (vs. ABGSCe 11m), with no machine deliveries in the quarter (in line with estimates). Coating Services and Aftermarket sales were SEK 4.4m and 2.1m, respectively (vs. ABGSCe 6m and 5m). During the quarter, cost-cutting measures were implemented. These are expected to lower personnel costs (ex. China) by ~20%, with effects materialising gradually. As a result of lower sales, EBIT was lower at SEK -16m (vs. ABGSCe -12m). In order to secure near-term financing, the company took out a loan of SEK 20m in Q2 connected to its Chinese operations. The company ended the quarter with a cash balance of SEK 30m, which can be compared to the R12m FCF lease adj. of SEK -79m.Estimate changes and outlookWe lower '25e-'27e sales by 6-1% but raise '25e-'27e EBIT by SEK 6m, due to the company's improved cost control. The hydrogen market remains sluggish, delaying customer decisions. Nonetheless, Impact continues to see underlying demand, albeit with slower conversion into orders. The company notes gradually increasing Coating Services activity within the hydrogen business area, which it views as a sign that customers are moving stepwise toward investment decisions.Long-term view unchangedOur long-term view of the company is unchanged despite a softer quarter. We believe the substantial investments in the Chinese hydrogen market present a growth opportunity for Impact Coatings. During the quarter the company added new paying customers and received several sampling orders from customers in Europe and North America. The company is currently trading at 3.9x-2.5x '25e-'27e EV/sales vs. peers at 1.0x-0.6x, with current multiples reflecting a company in early-stage development with high growth potential, in our view.