Let’s try to revive the thread.
Half a year has passed since the rights issue, and on October 23rd, the first so-called “clean” quarter was published, which did not include costs related to the rights issue, nor one-time costs from subsequently restructured loans. The Q3 report and webcast reveal that organic growth is still challenging. The company is now emphasizing disciplined cost management, increasing EBITA%, and business cash flow. The net debt/EBITDA ratio of 3.2 was still above the company’s target of <3.0.
A smaller loan portfolio, decreased interest rates, and profitability enhancement measures are now nicely reflected in the bottom line and cash flow. EPS was SEK 0.09 (0.05) and operating cash flow was clearly positive at SEK 35 MSEK (-2.3 MSEK).
The CEO emphasizes that the focus is now on capital allocation discipline, which is at least desirable after all the past (in my opinion, reckless) years.
July–September 2025
Net revenue was SEK 363.2 million (403.6), an organic decrease of 10.0%, an organic decrease of 4.8% net of currency effects
Orders received was SEK 349.2 million (421.8), an organic decrease of 17.2%, a decrease of 12.1% net of currency effects
EBITA was SEK 56.4 million (55.4), an increase of 1.8%
Operating profit (EBIT) was SEK 44.8 million (66.4)
Profit for the period was SEK 56.0 million (11.8) and adjusted profit for the period was SEK 19.0 million (-5.4).
Basic earnings per share amounted to SEK 0.09 (0.05)
Operating cash flow was SEK 35.3 million (-2.3), an increase of 1,629.1%