Finnish soundproof office pod maker Framery's Q3  boosted by N.America demand

Framery Oyj

Mon 07:10

Overview
Finland soundproof office pod maker's Q3 revenue grew 2.3% yr/yr to EUR 53.4 mln
Adjusted EBIT margin rose to 23.7%, EPS increased to EUR 0.12 from EUR 0.08
Company launched EUR 10 mln share buyback program during the quarter

Outlook
Framery does not publish a short-term outlook
Company targets average annual organic revenue growth to exceed 10% from 2025 baseline
Framery aims for adjusted EBIT margin of 25% in the mid-term and net debt to adjusted EBITDA below 2.0x

Result Drivers
NORTH AMERICA GROWTH - Co said revenue growth was driven by strong demand in North America, with revenue up nearly a third and underlying revenue up more than 60% in Q3
NEW PRODUCT LAUNCH - Framery launched the Gradus product line tailored to North American workplace standards, with strong demand and over 200 units ordered for dealer showrooms
SUBSCRIPTION MODEL EXPANSION - Co expanded its subscription-based Framery Subscribed model globally, with dealer network sales contributing well over half of Subscribed sales in Q3

Company press release: ID:nMFN5YLlxv

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
 
EUR 53.40 mln
 
Q3 EPS
 
EUR 0.12
 
Q3 Adjusted EBITDA
 
EUR 14.30 mln
 
Q3 Adjusted EBIT
 
EUR 12.60 mln
 
Q3 Adjusted EBITDA Margin
 
26.70%
 
Q3 Adjusted EBIT Margin
 
23.70%
 

Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the business support supplies peer group is "buy."
Wall Street's median 12-month price target for Framery Group Oyj is €9.50, about 55% above its October 30 closing price of €6.13
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 14 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)