Consti - In line with estimates
Consti's net sales in Q3 amounted to EUR 86.0m, slightly above our estimates (Evli est. EUR 85.1m.), with decline of 4.3% y/y. EBIT amounted to EUR 3.4m, in line with our estimates.
- Net sales in Q3 were EUR 86.0m (EUR 89.9m in Q3/23), only slightly above our estimates (EUR 85.1m). Sales declined 4.3% y/y against a tough comparison period.
- Public Sector business area delivered net sales that were notably higher than we had estimated.
- Housing Companies business area sales declined 9.7% while we had estimated flat sales.
- Corporations business area sales declined slightly more than we had estimated, on the other hand Building Technology grew at even more rapid pace than we projected.
- Operating profit in Q3 amounted to EUR 3.4m (EUR 4.8m in Q3/23), in line with our estimate (EUR 3.4m) at a margin of 3.9% (Q3/23: 5.3%, Evli: 4.0%).
- EPS in Q3 amounted to EUR 0.31 (EUR 0.47 in Q3/23), also in line with our estimates (Evli est. EUR 0.32)
- The order backlog at the end of Q3 was EUR 250.4m (EUR 247.3m in Q3/23), growing 1.3% y/y. Order intake was EUR 64.8m in Q3 (Q3/23: EUR 23.2m).
- Order intake was significantly stronger compared to last year, order backlog stays at a good level.
- Free cash flow amounted to EUR 1.7m (Q3/23: EUR 7.1m) as capital was tied into working capital.
- Guidance for 2024 (unchanged): Operating result for 2024 will be in the range of EUR 9–12 million