Brief: Bergman & Beving Q3 EBITA Increases By 23% To SEK 103 Mln

Bergman & Beving AB

03/02/2023 07:07

Feb 3 (Reuters) - Bergman & Beving AB  BERGb.ST :
    * Q3 REVENUE ROSE BY 7 PERCENT TO MSEK 1,239 (1,163)
    * Q3 EBITA INCREASED BY 23 PERCENT TO MSEK 103 (84)
    * Q3 NET PROFIT ROSE BY 10 PERCENT TO MSEK 56 (51)
    * RISING INFLATION, WEAK SEK, UNCERTAINTY IN CONSTRUCTION,
INDUSTRIAL SECTORS HAVE NOT YET HAD ANY MAJOR IMPACT ON DEMAND
    * HOWEVER, COMPANY'S RESELLER CUSTOMERS HAVE REDUCED THEIR
BUFFER
INVENTORIES
    * INITIATED COST REDUCTIONS HAVE BEGUN TO HAVE AN IMPACT AND
DURING QUARTER OUR COMPANIES HAVE IMPLEMENTED FURTHER COST
SAVINGS
    * ACTIVITIES WERE CARRIED OUT TO REDUCE CO' INVENTORY
LEVELS, BUT
THEY REMAIN HIGHER THAN YEAR AGO AS THEY ARE IMPACTED BY HIGHER
AVERAGE PRICES, WEAKER SEK
    * MEASURES TO REDUCE CO'S INVENTORY LEVELS ARE EXPECTED TO
GIVE
POSITIVE EFFECT ON CASH FLOW FROM Q1 OF NEXT OPERATING YEAR
    * AMBITION TO REACH MSEK 500 IN OPERATING PROFIT BY 2025/26
OPERATING YEAR REMAINS FIRM

Source text for Eikon:  ID:nGNE1ZK1hf 
Further company coverage:  BERGb.ST 
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))