Sweden's Bonava Q3 sales miss; lowers FY forecasts
Sweden's Bonava Q3 sales miss; lowers FY forecasts
Overview
Sweden-based residential developer's Q3 net sales and EBIT missed analyst expectations
Company raised gross and EBIT margins yr/yr for Q3
Bonava cut 2026 outlook for operating margin and net sales growth
Outlook
Bonava lowers 2026 operating margin outlook to about 7% from previous 8–9%
Company now expects 2026 net sales to grow about 10% vs 2025, down from 20–25% forecast
Bonava implementing cost-reduction measures in Germany to improve efficiency in Q4
Result Drivers
UNIT SALES AND STARTS - Co reported increased number of housing units sold and production starts in Q3
SWEDISH TURNAROUND - CEO said Swedish operation showed clear turnaround in Q3
COST REDUCTION MEASURES - Co said it is implementing cost-reduction measures, mainly in Germany, to improve efficiency
Company press release: ID:nWkrbxBtmN
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | Miss | SEK 2.22 bln | SEK 2.60 bln (4 Analysts) |
Q3 Gross Margin |
| 14.10% |
|
Q3 EBIT | Miss | SEK 168 mln | SEK 209 mln (4 Analysts) |
Q3 EBIT Margin |
| 7.60% |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the real estate rental, development & operations peer group is "buy"
Wall Street's median 12-month price target for Bonava AB (publ) is SEK13.00, about 49.8% above its October 21 closing price of SEK8.68
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago
Reuters Recommended Reads
Oct 21 - Sweden residential developer JM's nine-month profit rises on production activity
Oct 21 - Fabege Q3 profit rises on residential development
Oct 21 - Sweden's Neobo Q3 profit from property management rises on lower costs
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(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.)