Munters drops after Q3 results, continued weak battery outlook

Munters AB

22/10/2024 08:32

** Shares in Munters  MTRS.ST  drop 8.1% after the Swedish
air treatment solutions provider posted its Q3 print below
market expectations, amid continued weak battery outlook
    ** "In AirTech organic order intake was negative, mainly
driven by the weaker battery market," the company says in a
statement
    ** It adds that the market has seen delays in investments
across all regions, resulting in significantly decreased demand
over the past quarter and aggressive price pressure
    ** "We anticipate these challenging conditions to remain in
2025," the company says
    ** Peer Swedish Nederman  NMAN.ST  is down 5.6% after the
company's third quarter adjusted EBITA fall year-on-year   
    ** Shares in Munters are the second worst performers on
pan-European STOXX 600 index  .STOXX  
    

 (Reporting by Jesus Calero)
 ((Jesus.calero@thomsonreuters.com))