Brief: Ctek Expects Q2 Net Sales And Profit To Be Lower Than Q1

CTEK AB (publ)

10/05/2023 07:09

May 10 (Reuters) - CTEK AB (publ)  CTEK.ST :
    * INTERIM REPORT Q1: CLEAR EFFECTS OF COST REDUCTIONS AND
POSITIVE
CASH FLOW BUT GENERALLY LOWER MARKET ACTIVITY HITS THE VOLUMES
    * Q1 NET SALES AMOUNTED TO SEK 246 MILLION (237). NET SALES
DECLINED 4 PERCENT ORGANICALLY.
    * Q1 ADJUSTED EBITA DECLINED TO SEK 7 MILLION (22),
CORRESPONDING
TO AMARGIN OF 3.0 PERCENT (9.3)
    * TARGET OF GENERATING A POSITIVE CASH FLOW FOR FULL-YEAR
2023
STILL STAND
    * WE SEE THAT OUR EVSE VOLUMES WITHIN ORIGINAL EQUIPMENT
DIVISION
IN 2023 WILL BE SIGNIFICANTLY LOWER THAN PREVIOUSLY ESTIMATED
    * WE SEE A CLEAR SLOWDOWN IN MARKET ACTIVITY WITH LOWER
VOLUMES AS
A RESULT
    * ASSESSMENT IS NOW THAT Q2'S NET SALES AND PROFIT WILL BE
LOWER
THAN Q1 OF YEAR BEFORE WE CAN SEE AN IMPROVEMENT

Source text for Eikon:  ID:nWkr90gfXX 
Further company coverage:  CTEK.ST 

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