Brief: Probi: Preliminary Q3 Net Sales Expected To Decrease 9% Year-On-Year

Probi AB

10/10/2022 15:20

Oct 10 (Reuters) - Probi AB  PROB.ST :
    * WEAKER GROWTH IN US
    * DURING Q3, DEVELOPMENT IN AMERICAS REGION, WHICH ACCOUNTS
FOR
APPROXIMATELY 70% OF PROBI'S NET SALES, HAS BEEN LOWER THAN
EXPECTED
    * PREVIOUSLY, PROBI HAS INFORMED THAT ORDER PATTERN OF A FEW
LARGER CUSTOMERS HAS CHANGED, WHICH WILL CONTRIBUTE TO LOWER
GROWTH IN 2022
    * THESE MISSING ORDERS, TOGETHER WITH AN INCREASED CAUTION
IN
AMERICAN MARKET, ARE MAIN EXPLANATIONS FOR NEGATIVE DEVELOPMENT
IN REGION.
    * ACCORDING TO PRELIMINARY REPORTING, PROBI'S NET SALES IN
Q3 ARE
EXPECTED TO AMOUNT TO SEK 145 MILLION, CORRESPONDING TO A
DECREASE OF 9% (ADJUSTED FOR CURRENCY EFFECTS -22%) COMPARED TO
CORRESPONDING QUARTER LAST YEAR
    * EBITDA MARGIN IN Q3 IS ESTIMATED TO BE 25%, WHICH IS JUST
BELOW
FIRST SIX MONTHS OF YEAR.

Source text for Eikon:  ID:nWkr3TXKhv 
Further company coverage:  PROB.ST 
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