Sweden's Freemelt Q2 sales fall 53%, loss widens
Sweden's Freemelt Q2 sales fall 53%, loss widens
Overview
Sweden 3D printer maker's Q2 sales fell 53% yr/yr
Operating loss widened to SEK 23.4 mln from SEK 20.5 mln yr ago
Company secured new orders in US, China, and defense, and raised SEK 35 mln via warrants
Outlook
Freemelt aims to reach SEK 1 bln in revenue by 2030
Company sees expanding demand for qualified advanced metal components and robust supply chains
Freemelt focused on industrializing products and commercialization in Europe, North America and Asia
Result Drivers
NEW ORDERS - Co cited new orders from Intalus in the US, Jiuli in China, and Saab Dynamics in defense sector as recent commercial activity
CAPITAL RAISE - Co raised SEK 35 mln via warrants to strengthen financial position
Company press release: ID:nMFNb838mr
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| SEK 9.04 mln |
|
Q2 EBIT |
| -SEK 23.37 mln |
|
Analyst Coverage
Wall Street's median 12-month price target for Freemelt Holding AB (publ) is SEK1.60, about 8.1% above its August 10 closing price of SEK1.48
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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.)