Ferronordic - Earnings beat across the board
12 augusti, 08:00
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Q2 in briefStrong set of numbers from Ferronordic. Sales SEK 1,558m (34% vs. ABGSCe 1,159m), EBIT 68m (65% vs. ABGSCe 41m, -5m in Q2'25) for an EBIT margin 4.4% (ABGSCe 3.6%). Earnings beat across all segments (US, Germany & Kazakhstan). Net debt came down to 1,845m (1,957m in Q1), 3.0x ND/EBITDA (3.8x in Q1), on both lower net debt and higher EBITDA. Outlook and estimate changesThe report would mechanically raise EBIT by 14-11% '26e-'27e. Management remains optimistic about US operations and environment ahead, where infra and data centers investments continue to drive growth. In Germany they expect a gradual recovery as fleet renewal requirements accumulate and a continued strong aftermarket. ValuationPrior to today's report, the share had returned +13% L1M, compared to the +4% of OMXSGI. The share is currently trading at 15-10x '26e-'27e EV/EBIT on our pre-report estimates vs. the peer median of 17-16x. The company will host a conference call at 10.00 CET, link here. |
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Deviation table | |||
Source: ABG Sundal Collier, company data |
Läsaren av innehållet kan anta att ABG Sundal Collier har erhållit eller kommer att erhålla betalning för utförandet av finansiella företagstjänster från bolaget. Ersättningen är på förhand avtalad och är inte beroende av innehållet.
Ämnen i artikeln
Ferronordic - Earnings beat across the board
12 augusti, 08:00
|
Q2 in briefStrong set of numbers from Ferronordic. Sales SEK 1,558m (34% vs. ABGSCe 1,159m), EBIT 68m (65% vs. ABGSCe 41m, -5m in Q2'25) for an EBIT margin 4.4% (ABGSCe 3.6%). Earnings beat across all segments (US, Germany & Kazakhstan). Net debt came down to 1,845m (1,957m in Q1), 3.0x ND/EBITDA (3.8x in Q1), on both lower net debt and higher EBITDA. Outlook and estimate changesThe report would mechanically raise EBIT by 14-11% '26e-'27e. Management remains optimistic about US operations and environment ahead, where infra and data centers investments continue to drive growth. In Germany they expect a gradual recovery as fleet renewal requirements accumulate and a continued strong aftermarket. ValuationPrior to today's report, the share had returned +13% L1M, compared to the +4% of OMXSGI. The share is currently trading at 15-10x '26e-'27e EV/EBIT on our pre-report estimates vs. the peer median of 17-16x. The company will host a conference call at 10.00 CET, link here. |
pagebreak
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Deviation table | |||
Source: ABG Sundal Collier, company data |
Läsaren av innehållet kan anta att ABG Sundal Collier har erhållit eller kommer att erhålla betalning för utförandet av finansiella företagstjänster från bolaget. Ersättningen är på förhand avtalad och är inte beroende av innehållet.
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