Q3: Solid production volumes, EBIT +11% vs. ABGSCe
SinterCast reported Q3 sales of SEK 25.3m (-5% vs. ABGSCe 26.7m), up 32% y-o-y. Annualised engine equivalents for the quarter were 3.2m (Q3’20 2.8m) marking seven straight months at 3m or above. Sampling cup volumes declined sequentially since customers had stocked up their inventories in Q2’21, but volumes were still up 8% y-o-y. EBIT was SEK 8.0m (+11% vs. ABGSCe SEK 7.2m), for a margin of 31.6% (ABGSCe 27.0%). The EBIT beat was driven in part by a higher gross margin (75% vs. ABGSCe 72%), as well as some FX tailwinds. Moreover, the company says Q4 is expected to be a strong quarter for system installations (’21 guidance of SEK 8m implies SEK 3.8m equipment sales in Q4’21). SinterCast also stated that the ambition is to reach the 4m engine equivalents milestone during ’22.
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