Tissue maker Essity posts marginal Q3 profit beat (updated)

Essity AB (publ)

24/10/2024 06:23

(Adds results details, CEO comment)
       Oct 24 (Reuters) - Swedish hygiene products maker Essity
 ESSITYa.ST  reported third-quarter core earnings slightly above
market expectations on Thursday, with volumes growing, as the
company cited cost savings and "good price discipline" even as
costs of goods sold fell.
        Essity reported adjusted operating profit before
amortisation (EBITA) of 5.10 billion Swedish crowns ($481.86
million) for the quarter.
  
        Profit beat the estimate of 5.02 billion crowns complied
by LSEG, but fell year-on-year from last year's 5.31 billion
crowns.
  
        Its adjusted EBITA margin rose to 14.1% from 12.2% in
the third quarter of 2023.
  
        "Our focus on growth resulted in higher volumes and
increased market shares all over the world," CEO Magnus Groth
said in the earnings statement.
  
     
     
    ($1 = 10.5840 Swedish crowns)

 (Reporting by Agata Rybska; Editing by Christopher Cushing and
Janane Venkatraman)
 ((agata.rybska@thomsonreuters))