LapWall - Profitability at a good level
LapWall's third quarter performance was solid, with net sales climbing in spite of a difficult market climate. The combination of operational leverage and the company's efficient production led to an uptick in profitability.
- Net sales in Q3 were EUR 11.7 (EUR 10.9m Q3/23), growing 6.9% y/y.
- EBITA was EUR 1.7m (EUR 1.0m Q3/23), at a margin of 14.3% (9.2%)
- The company’s profitability improved in line with the revised guidance. The main drivers behind the improved profitability in a tough operating environment were efficient production, improved capacity utilization and the company’s project management model.
- Backlog decreased 27.2% y/y to EUR 15.2m, down from EUR 20.9m at the end of Q3/23.
- Last year's backlog included one larger order worth EUR 6.5 million. The company was able to secure new orders to match the revenue during the Q3/24.
- Pyhäntä factory investment has progressed according to the plan.
- Last week, LapWall updated its guidance ranges for net sales and profitability for 2024.
- Revised guidance for 2024: net sales EUR 43-44.5m, EBITA EUR 4.9-5.2m. Previous guidance: net sales EUR 43-48m, EBITA 4.3-4.8m.