Actic's Q3 showed continued progress in higher profitability and reduced debt. Sales missed SEBe by -5% but EBIT came in +4% better, pinpointing a stronger profitability than we had expected. EBIT margin came in at 16.5% (SEBe at 15.1%) and improved clearly from 7.3% last year, driving EBIT growth of 113% y/y in the quarter. Leverage is now reduced to 2.8x ND/EBITDA or 2.1x exkl. IFRS16 and CEO highlights better bank loan terms ahead reducing interest cost.
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