Sweden's Midsona Q3 net sales rise, gross margin improves

Midsona AB

Today 07:17

Overview
Sweden health products firm's Q3 net sales rose 1.7% yr/yr, organic sales declined
Gross margin improved to 29.0% from 23.1% a year earlier
CEO cites higher costs, heatwave, and slow strategy execution as factors impacting results

Outlook
Midsona did not provide specific financial guidance for the current or coming periods in its press release

Result Drivers
PRODUCT MIX - CEO said profitability improved mainly due to product mix
RETAILER DELISTINGS - CEO said sales in North Europe were hampered by retailer delistings, especially of own brands
BRAND PERFORMANCE - CEO said brands with clear positioning and product development, such as Friggs, Helios, Kung Markatta and Risenta, performed well

Company press release: ID:nMFN9J1WNN

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Sales
 
SEK 910 mln
 
Q3 Adjusted Free Cash Flow
 
SEK 57 mln
 

Analyst Coverage
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 15 three months ago

Reuters Recommended Reads
Oct 22 - Sweden's Axfood Q3 EBIT beats on volume growth
Oct 22 - Sweden's Essity slightly misses Q3 net sales estimates
Oct 22 - Fiskars Q3 comparable net sales rise on volume growth

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.)