Sweden's Latour Q3 industrial profit jumps on sales volume
Sweden's Latour Q3 industrial profit jumps on sales volume
Overview
Sweden investment and industrial holding firm's Q3 industrial sales rose 7% yr/yr
Industrial operations' adjusted operating profit up 30% with margin rising to 16.9%
Listed investment portfolio value fell 5.2% over nine months, lagging benchmark index
Outlook
Latour says order backlog stands at SEK 8,243 mln, supporting revenue growth in coming quarters
Company sees continued positive demand in most operations, but notes caution in parts of construction
Latour says macroeconomic and geopolitical uncertainty could affect future performance
Result Drivers
ORDER INTAKE AND BACKLOG - Co said increased order intake and a strengthened order backlog supported sales and future revenue growth
SALES VOLUME AND COST CONTROL - Co attributed improved profitability to higher sales volumes, efficiency measures, and good cost control
SECTORAL DEMAND VARIATION - Co noted robust activity in refurbishment, energy upgrades, and infrastructure, but weakness in residential construction in Europe weighed on some segments
Company press release: ID:nWkr7lBGhR
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Industrial Sales |
| SEK 7.16 bln |
|
Q3 Industrial EBIT Margin |
| 16.90% |
|
Q3 Industrial Orders |
| SEK 7.18 bln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the investment holding companies peer group is "buy."
Wall Street's median 12-month price target for Investment AB Latour is SEK210.00, about 4.1% below its November 2 closing price of SEK219.00
Reuters Recommended Reads
Nov 3 - Sweden's 4C Group Q3 sales fall as deal delays weigh
Nov 3 - Sweden's Berner Industrier Q3 net sales rise, EBITA up 19%
Nov 2 - Swedish manufacturing PMI rises to 60.5 points in October
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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.)