Sweden's Careium Q2 sales rise on new customers in UK, Norway
Sweden's Careium Q2 sales rise on new customers in UK, Norway
Overview
Sweden care tech firm's Q2 net sales rose 24.3% yr/yr to SEK 251.3 mln
Gross margin slipped to 42.5% due to low-margin UK installation project
Company settled SEK 64 mln hybrid loan after quarter-end, repaying SEK 35 mln and writing off SEK 29 mln
Outlook
Company did not provide specific financial guidance for the current quarter or full year
Result Drivers
NEW CUSTOMER ONBOARDING - Co said sales growth was driven by onboarding new customers in the UK and Norway
LOW-MARGIN PROJECT - Gross margin decline attributed to a SEK 5.5 mln UK installation project with limited margin
RECURRING REVENUE MODEL - Multi-year service contracts with creditworthy customers provide recurring revenue and growth opportunities
Company press release: ID:nMFNbFlPsM
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| SEK 251.30 mln |
|
Q2 EPS |
| SEK 0.41 |
|
Q2 Gross Margin |
| 42.50% |
|
Q2 Free Cash Flow |
| SEK 4.70 mln |
|
Q2 Operating Margin |
| 6.00% |
|
Analyst Coverage
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 9 three months ago
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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.)