Sweden's Addnode Q3 net profit doubles
Sweden's Addnode Q3 net profit doubles
Overview
Sweden software provider's Q3 net sales rose 10% yr/yr, with 3% organic growth
Q3 EBITA and net profit both rose sharply from a year earlier
Company signed largest software contract to date and acquired AI-enabled SpaceIntel platform
Outlook
Company did not provide specific financial guidance for upcoming quarters or full year in its press release
Company expects renewals of three-year agreements in 2027 to support organic growth
Result Drivers
ORGANIC GROWTH - Co said organic growth contributed to earnings improvement
ACQUISITIONS - Co said acquisitions supported earnings improvement
ENHANCED EFFICIENCY - Co said improved efficiency helped drive earnings improvement
Company press release: ID:nMFN6bvfZm
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| SEK 1.44 bln |
|
Q3 Net Income |
| SEK 109 mln |
|
Q3 EBIT |
| SEK 159 mln |
|
Q3 EBITA |
| SEK 250 mln |
|
Q3 EBITA Margin |
| 17.40% |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the it services & consulting peer group is "buy"
Wall Street's median 12-month price target for Addnode Group AB (publ) is SEK70.00, about 23.7% above its October 22 closing price of SEK56.60
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 12 three months ago
Reuters Recommended Reads
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)