Sweden's Careium Q3 sales rise 21.6%, margin improves
Sweden's Careium Q3 sales rise 21.6%, margin improves
Overview
Sweden technology-enabled care provider's Q3 net sales rose 21.6% yr/yr
Q3 operating margin improved to 10.3% from 6.7%
Earnings per share for Q3 more than doubled yr/yr
Outlook
Company says it will continue to invest in its offering and operational efficiency for growth
Careium sees stable recurring revenues from multi-year service contracts supporting future visibility
Company expects ongoing demand for home-based care solutions to support its market position
Result Drivers
SERVICE SALES - Service sales rose 27.2% yr/yr, supported by new customer onboarding in the UK and Norway, according to CEO Tove Christiansson
PRODUCT SALES - Product sales increased 9.3% yr/yr, with strong momentum for mobile alarms, per CEO Tove Christiansson
GROSS MARGIN IMPROVEMENT - Gross margin rose to 45.0% from 44.2%, attributed to growth in all markets
Company press release: ID:nMFN2rgglG
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales |
| SEK 259.90 mln |
|
Q3 EPS |
| SEK 0.84 |
|
Q3 Gross Margin |
| 45.00% |
|
Q3 Free Cash Flow |
| SEK 13.60 mln |
|
Q3 Operating Margin |
| 10.30% |
|
Analyst Coverage
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago
Reuters Recommended Reads
Oct 21 - Sweden's AddLife beats Q3 net sales expectations
Oct 21 - Sweden's Husqvarna slightly misses Q3 sales estimates amid weak demand
Oct 21 - Sweden's SKF misses Q3 sales, operating profit estimates
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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.)