Sweden's Storskogen Q2 sales rise on organic growth
Sweden's Storskogen Q2 sales rise on organic growth
Overview
Sweden diversified group reported Q2 net sales up 5% yr/yr, organic sales growth positive
Adjusted EBITA for Q2 rose 2%, margin declined to 9.7% from 10.0%
Company completed two platform and two add-on acquisitions during the quarter
Outlook
Storskogen did not provide specific guidance for future quarters or the full year
Result Drivers
STABLE DEMAND - Co said organic growth in sales and EBITA was supported by stable demand across most parts of the group
Company press release: ID:nWkr9tzwFd
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| SEK 8.86 bln |
|
Q2 Adjusted EPS |
| SEK 0.23 |
|
Q2 Net Income |
| SEK 379 mln |
|
Q2 Adjusted EBITA |
| SEK 864 mln |
|
Q2 Adjusted EBITA Margin |
| 9.70% |
|
Q2 EBIT |
| SEK 660 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the consumer goods conglomerates peer group is "buy"
Wall Street's median 12-month price target for Storskogen Group AB (publ) is SEK15.50, about 45.2% above its August 10 closing price of SEK10.68
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago
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(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.)