Consti: High orders, decent profitability - Evli
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Consti: High orders, decent profitability - Evli

Consti's net sales in Q2 amounted to EUR 84.8m, surpassing our estimate (Evli est. EUR 80.6m.), with growth of 2.3% y/y. EBIT amounted to EUR 2.5m, while we had estimated EBIT of EUR 2.7m. Order backlog grew and remains healthy, in line with our expectations.



Net sales in Q2 were EUR 84.8m (EUR 82.9m in Q2/24), slightly surpassing our estimates.
Housing Companies net sales grew relatively well in line with our estimates, yet performance in Corporations business area fell short of our forecast.
Operating profit in Q2 amounted to EUR 2.5m (EUR 3.0m in Q2/24), below our estimate of EUR 2.7m.
Profitability remained negatively impacted by lower-than-expected net sales and weaker-than-anticipated performance in the Service business. Additionally, the continued weakness in the market further affected profitability negatively.
We had expected already some improvement for the Service business q/q which did not materialize.
EPS in Q2 amounted to EUR 0.23 (EUR 0.27 in Q2/24, EUR 0.25 Evli est.).
The order backlog at the end of Q2 was EUR 276.7m (EUR 261.2m in Q2/24), growing 5.9% y/y. Order intake was EUR 105.1m in Q2 (Q2/24: EUR 90.8m).
As expected, order backlog stays at a healthy level as order intake grew 15.8% y/y. Larger orders contributed some EUR 47m to new orders.
Free cash flow amounted to EUR 2.9m (Q2/24: EUR 1.2m).
Guidance for 2025 (unchanged): Operating result for 2025 will be in the range of EUR 9–12 million.
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