Elekta falls on surprise drop in Q2 orders, profit miss

Elekta AB (publ)

27/11/2024 08:19

** Shares in Elekta  EKTAb.ST  falls 5.5% after the Swedish
radiation therapy equipment maker reported a 9% decline in Q2
orders, while consensus cited by J.P.Morgan was expecting 1.5%
growth
    ** Adjusted EBIT falls 22% y/y to SEK 423 million ($38.57
million), 7.9% below consensus
    ** JPM says it expects cuts to EBIT consensus in the second
half of the year due to the Q2 miss
    ** The broker adds the improvement in orders from China and
the forecast for an H2 acceleration might not be enough to
convince investors
    ** The stock trades at its lowest level since December 2022
and is among the worst performers on the pan-European STOXX 600
 .STOXX 

($1 = 10.9671 Swedish crowns)

 (Reporting by Anna Chaberska)
 ((Anna.chaberska@thomsonreuters.com))