Sweden's Kjell Group Q3 sales rise as profit improves
Sweden's Kjell Group Q3 sales rise as profit improves
Overview
Sweden electronics accessories retailer's Q3 net sales rose 8.1% yr/yr
Adjusted EBITA for Q3 more than doubled yr/yr
Company reported growth across all markets, both online and in stores
Outlook
Kjell Group says it is focused on Q4, its most important quarter
Result Drivers
MARKET GROWTH - Co said sales grew in all markets, both online and in stores
GROSS MARGIN IMPROVEMENT - Co reported higher gross margin in Q3, partly due to absence of prior yr inventory write-down
Company press release: ID:nMFN2B9Z6c
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales |
| SEK 639 mln |
|
Q3 Adjusted EPS |
| SEK 0.30 |
|
Q3 Net Income |
| SEK 28.80 mln |
|
Q3 Gross Margin |
| 41.80% |
|
Q3 Adjusted EBITA |
| SEK 40 mln |
|
Q3 Adjusted EBITA Margin |
| 6.30% |
|
Q3 Operating Profit |
| SEK 35.50 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the computer & electronics retailers peer group is "buy."
Wall Street's median 12-month price target for Kjell Group AB (publ) is SEK13.50, about 20.6% below its October 21 closing price of SEK17.00
The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 38 three months ago
Reuters Recommended Reads
Oct 21 - Sweden's Inwido Q3 sales rise 22%, order backlog hits record
Oct 21 - Sweden's Husqvarna slightly misses Q3 sales estimates amid weak demand
Oct 21 - Sweden's SKF misses Q3 sales, operating profit estimates
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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.)