Mixed Quarterly Results Show Diverging Fortunes Among Swedish Companies
Quarterly reports from Swedish companies show strong gains in construction, declines in IT services, and innovation in marine technology, alongside rising interest in investment products.
- • Besqab forecasts significant increase in full-year operating result to 230-250 million kronor.
- • Avensia's revenue fell 3% with worsened cash flow despite higher occupancy and hourly rates.
- • GranFoss collaborates with Siemens to pilot autonomous eco-friendly dredging robots.
- • Investor interest in Exchange Traded Products grows during the Investerar-SM competition.
Key details
Several Swedish companies have released their latest quarterly financial results, reflecting varied performances across sectors. Besqab, a residential construction firm, forecasts a strong operating result between 230 and 250 million kronor for the full year. This marks a substantial increase from 156 million kronor last year and 174 million kronor in 2023, driven by very good sales and plans for new project starts in the fourth quarter. (ID:113933)
In contrast, Avensia reported a 3% revenue decline to 89.0 million kronor compared to the previous year’s 91.7 million kronor. Even though occupancy and hourly rates improved, the reduced workforce led to fewer billable hours. The quarterly cash flow also deteriorated to negative 2.6 million kronor, down from 6.7 million kronor previously, with liquid assets falling to 36.3 million kronor by the quarter’s end. (ID:114438)
Betsson's results aligned with expectations, but the article primarily focused on Granfoss's innovative marine dredging technology, developed in collaboration with Siemens. Granfoss is piloting autonomous robots designed to continuously remove sediment in an environmentally friendly manner, potentially revolutionizing traditional dredging methods by reducing pollution and improving port operations. (ID:113922)
Additionally, the Investerar-SM event highlighted increasing interest in Exchange Traded Products (ETPs) in the Nordics, underscoring the growing appetite for diverse and accessible investment options among Swedish investors. The competition, involving thousands of participants, offers a simulated trading environment to foster financial literacy. (ID:114472)