Sweden's Nimbus Group Q2 sales fall on weak demand
Sweden's Nimbus Group Q2 sales fall on weak demand
Overview
Sweden powerboat maker's Q2 net sales fell 16% yr/yr amid cautious market conditions
Q2 EBITA was stable yr/yr, with margin up to 5.3% from 4.5% on cost-saving measures
Operating cash flow rose sharply to SEK 139 mln, supported by inventory management and seasonality
Outlook
Company says market remains cautious with dealers reluctant to place new orders
Nimbus Group continues cost-saving and performance improvement initiatives to offset weak demand
Company remains focused on turning around North American business and reviewing Edgewater operations
Result Drivers
COMMERCIAL SALES WEAKNESS - Co said Commercial Sales declined across the Nordic region, Europe and North America due to dealer caution and reluctance to place new orders
COST-SAVING INITIATIVES - Co said strengthened gross margins and cost-saving measures offset the impact of lower sales, helping maintain stable EBITA
EDGEWATER IMPACT - Co said the Edgewater business continued to have a negative impact on results despite further capacity reductions and cost-saving actions
Company press release: ID:nMFN63vnRV
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| SEK 478.80 mln |
|
Q2 EPS |
| SEK 0.53 |
|
Q2 Net Income |
| SEK 22.50 mln |
|
Q2 EBIT |
| SEK 25.70 mln |
|
Q2 EBITA |
| SEK 25.50 mln |
|
Q2 EBITA Margin |
| 5.30% |
|
Q2 Operating Cash Flow |
| SEK 139.30 mln |
|
Analyst Coverage
The stock recently traded at 4 times the next 12-month earnings vs. a P/E of 4 three months ago
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.)