Sweden's Latour Q2 sales rise on strong industrial demand
Sweden's Latour Q2 sales rise on strong industrial demand
Overview
Sweden investment and industrial group's Q2 industrial sales rose 3% yr/yr
Industrial order intake grew 11% yr/yr, with 13% growth on constant currency basis
Net asset value per share fell 3.7% in H1, underperforming benchmark index
Outlook
Latour expects strong order book to support sustained net sales growth in coming quarters
Company says market conditions are progressively improving but remain mixed across sectors and regions
Latour anticipates minimal financial impact from Middle East geopolitical uncertainty
Result Drivers
STRONG INDUSTRIAL DEMAND - Co said most industrial businesses saw solid demand and gradual market recovery in Q2
ACQUISITIONS BOOST GROWTH - Co said five acquisitions in Q2 and additional deals in Q1 added net annualised acquired growth of SEK 700 mln
MIXED CONSTRUCTION TRENDS - Co said subdued residential construction in parts of Europe offset by resilient demand in refurbishment and industrial infrastructure segments
Company press release: ID:nWkr5XJjrf
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Industrial Sales |
| SEK 7.23 bln |
|
Q2 Industrial EBIT Margin |
| 13.80% |
|
Q2 Industrial Orders |
| SEK 7.81 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 SEK218.00, about 15.8% above its August 18 closing price of SEK188.30
Reuters Recommended Reads
Aug 19 - Sweden's Idun Industrier Q2 sales rise on acquisitions
Aug 18 - Sweden's Klarna Q2 revenue beats estimates; lowers FY outlook
Aug 19 - Switzerland's Geberit H1 sales rise on volume growth
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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.)