Sweden's Maven Wireless Q3 sales rise on European demand
Sweden's Maven Wireless Q3 sales rise on European demand
Overview
Sweden indoor wireless coverage provider's Q3 net sales grew yr/yr, driven by European demand
EBITDA and operating profit turned positive after losses in prior year
Company disclosed targeted fraud incident, tightened internal financial controls
Outlook
Company maintains strategic priorities to drive profitable growth and improve cash flow
Maven Wireless enters Q4 with a lower cost base and higher order intake year-to-date
Company continues to invest for growth in new markets and products
Result Drivers
EUROPEAN SALES - Majority of Q3 sales came from Europe, with mix of cellular, critical communications and combined products
ONE-OFF AGREEMENT - Gross margin improved to 53%, supported by a one-off agreement without material delivery to a key framework agreement customer
ORDER INTAKE - Q3 order intake increased yr/yr, including 2 new customers in UK and Sweden
Company press release: ID:nMFNcWl2c
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales |
| SEK 41.86 mln |
|
Q3 EBITDA |
| SEK 2.58 mln |
|
Q3 Operating Profit |
| SEK 476,000 |
|
Q3 Orders |
| SEK 34.90 mln |
|
Analyst Coverage
Wall Street's median 12-month price target for Maven Wireless Sweden AB is SEK6.00, about 31% above its October 15 closing price of SEK4.58
Reuters Recommended Reads
Oct 15 - Sweden's OEM International Q3 sales beat estimates, partly on acquisitions
Oct 15 - Sweden's MilDef Q3 sales surge on increased delivery rate
Oct 15 - Ericsson braces for component cost hit after third-quarter profit beat
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.)