Consti - Even stronger than expected
Consti's net sales in Q4 amounted to EUR 93.3m, above our and consensus estimates (EUR 85.1m/86.0m Evli/cons.), with growth of 12.9% y/y. EBIT amounted to EUR 4.8m, also above our and consensus estimates (EUR 3.7m/3.4m Evli/cons.). Guidance for FY 2023: operating result for 2023 will be in the range of EUR 9.5–13.5 million.
- Net sales in Q4 were EUR 93.3m (EUR 82.6m in Q4/21), above our and consensus estimates (EUR 85.1m/86.0m Evli/cons.). Sales growth was impressive at 12.9% y/y.
- operating profit in Q4 amounted to EUR 4.8m (EUR 3.0m in Q4/21), above our and consensus estimates (EUR 3.7m/3.4m Evli/cons.) at a margin of 5.2% (3.6%).
- EPS in Q4 amounted to EUR 0.49 (EUR 0.30 in Q4/21), above our and consensus estimates (EUR 0.36/0.33 Evli/cons.).
- The order backlog in Q4 was EUR 246.7m (EUR 218.6m in Q4/21), up by 12.8% y/y. Order intake was EUR 109.1m in Q4 (Q4/21: EUR 66.9m).
- Free cash flow amounted to EUR 10.4m (Q4/21: EUR 6.1m).
- The company’s order intake was impressive as it won multiple significant orders during Q4 such as Oulunkylä elementary school and kindergarten and Jorvi Hospital
- The profitability continues to be strong despite the cost inflation having a negative effect, the projects progressed as planned during the quarter and Consti did not experience such problems with projects as it did during Q4 2021
- Guidance for 2023: Operating result for 2023 will be in the range of EUR 9.5–13.5 million