Q3: Promising improvements on profitabilityIn the seasonally softer Q3, sales were SEK 62m, up 26% y-o-y, of which 42% organic. Sales growth was mainly driven by the 155% increase seen in the Circular Energy segment. EBIT was SEK -4.9m (-25.8m) for a margin of -8% (-53%), and management stated that it is now seeing its structure and sales work starting to affect the numbers. The EBIT converted into EPS of SEK -0.10 (-0.78). Lease-adj. FCF was SEK -10.6m, and the company ended the quarter with a cash balance of SEK 42m.
Aktiespararnas analys: Minskad utspädning
Lägre tillväxt men bättre marginal och kassaflöde än väntat, leder till att kassan bör räcka och därmed, tillsammans med en tilläggsköpeskilling som frusit inne, till minskad utspädning och oförändrad motiverad kurs på aktien.
