Sweden's Ework Group Q3 sales fall 8%
Sweden's Ework Group Q3 sales fall 8%
Overview
Sweden consulting and workforce partner's Q3 net sales fell 8% yr/yr
Adjusted EPS rose to SEK 1.04 from SEK 0.91 yr/yr
Company says decline in volumes has stabilised
Outlook
Company says market conditions remain difficult to assess, with long lead times for contracts
Company continues to focus on generating new business and gradually increasing market share
Result Drivers
LOWER ASSIGNMENT VOLUMES – Q3 sales declined as professionals on assignment fell in all markets except Norway; partly offset by higher average prices
COST AND DEPRECIATION SAVINGS – Lower costs and depreciation partly offset revenue-led decline in Q3 EBIT
CLIENT EXPIRY – Poland & Slovakia sales and segment profit fell primarily after a major client agreement expired
Company press release: ID:nWkr7QGBf
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales |
| SEK 2.75 bln |
|
Q3 Adjusted EPS |
| SEK 1.04 |
|
Q3 Operating Profit |
| SEK 27 mln |
|
Q3 Orders |
| SEK 2.71 bln |
|
Analyst Coverage
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 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.)