StrongPoint - A waiting game
2 juli, 18:00
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Q2e EBITDA of NOK 3mWe anticipate a somewhat soft Q2, driven by continued market weakness where long decision-making cycles and ongoing project delays continue to hamper momentum. Some positive developments have been observed during the quarter, e.g rate cuts in Norway and the announcement of new contracts. However, the overall macroeconomic environment remains cloudy. We expect StrongPoint to report Q2 revenues of ~NOK 330m (up ~10% y-o-y), with a GM at 42.5%, EBITDA of ~NOK 3m, EBIT of NOK -7m and net profit of NOK -8m. StrongPoint had disposable funds of NOK 85m in Q1, which should be sufficient to handle short-term headwinds, although it could be more challenging in the medium term. Targets look challengingThe company has previously pointed to a '25e ambition of NOK 1.5bn-1.8bn in revenue and an EBITDA margin of 4-6%. We continue to highlight that this seems challenging. Our FY'25e revenue estimate is close to NOK 1.4bn, and we see the adj. EBITDA margin at ~2-2.5%. We will not be surprised if the company adjusts its wording regarding FY'25 at either the Q2 or Q3 report. Recovery postponedRetailers continue to postpone investments, which may indicate that '25 will be another challenging year. Although the company has landed contracts with top retailers in important regions (Iberia, UK, Belgium), most of the revenues will likely only be seen from '26 (initially expected for '25). More contracts would provide comfort, but the recovery seems to be postponed for now. |
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
StrongPoint - A waiting game
2 juli, 18:00
|
Q2e EBITDA of NOK 3mWe anticipate a somewhat soft Q2, driven by continued market weakness where long decision-making cycles and ongoing project delays continue to hamper momentum. Some positive developments have been observed during the quarter, e.g rate cuts in Norway and the announcement of new contracts. However, the overall macroeconomic environment remains cloudy. We expect StrongPoint to report Q2 revenues of ~NOK 330m (up ~10% y-o-y), with a GM at 42.5%, EBITDA of ~NOK 3m, EBIT of NOK -7m and net profit of NOK -8m. StrongPoint had disposable funds of NOK 85m in Q1, which should be sufficient to handle short-term headwinds, although it could be more challenging in the medium term. Targets look challengingThe company has previously pointed to a '25e ambition of NOK 1.5bn-1.8bn in revenue and an EBITDA margin of 4-6%. We continue to highlight that this seems challenging. Our FY'25e revenue estimate is close to NOK 1.4bn, and we see the adj. EBITDA margin at ~2-2.5%. We will not be surprised if the company adjusts its wording regarding FY'25 at either the Q2 or Q3 report. Recovery postponedRetailers continue to postpone investments, which may indicate that '25 will be another challenging year. Although the company has landed contracts with top retailers in important regions (Iberia, UK, Belgium), most of the revenues will likely only be seen from '26 (initially expected for '25). More contracts would provide comfort, but the recovery seems to be postponed for now. |
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
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