Sweden's LumenRadio Q3 sales slip on weaker China demand
Sweden's LumenRadio Q3 sales slip on weaker China demand
Overview
Sweden wireless connectivity firm's Q3 net sales fell 6.5% yr/yr to SEK 61 mln
Q3 EBITDA margin was 27.2%, nearly unchanged from a year earlier
Revenue decline partly due to strategic product mix change reducing recurring sales
Outlook
Company says it is well positioned in China and Asia for demand recovery
Company expects continued positive performance in European Entertainment Lighting
Company did not provide specific financial guidance for future quarters in its press release
Result Drivers
PRODUCT MIX CHANGE - Co said strategic shift in product mix reduced recurring sales by SEK 3.5 mln
CHINA DEMAND SLOWDOWN - Co said weaker market in China, especially TV and film, led to lower demand from entertainment lighting manufacturers
SMART METERING ORDER - Co said Building Automation revenue was driven by delivery of major Smart Metering order in Europe
Company press release: ID:nMFN7NRwjk
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| SEK 61 mln |
|
Q3 EPS |
| SEK 0.77 |
|
Q3 EBIT |
| SEK 12.80 mln |
|
Q3 EBITDA |
| SEK 16.60 mln |
|
Q3 EBITDA Margin |
| 27.20% |
|
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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.)