ByggPartner Gruppen (BYGGP) Q3 2024 earnings summary

Executive summary

• Profitability and selective order intake were prioritized, focusing on high-margin collaborative projects over volume.

• Order intake and net sales declined year-over-year, reflecting a strategic reduction of unprofitable operations, especially in Mälardalen and Flodéns.

• Order backlog reached 3,832 MSEK, lower than last year but with improved profitability potential and reduced risk.

• Financial position remained stable with a solid equity ratio and reduced risk profile.

• Continued focus on public sector, industrial investments, and collaborative projects.

Financial highlights

• Q3 2024 order intake was 807 MSEK, down from 1,022 MSEK; order backlog at quarter-end was 3,832 MSEK, down from 4,666 MSEK.

• Net sales for Q3 were 959 MSEK.

• Q3 EBITDA was 27 MSEK, with a margin of 2.8%; EBIT was 9 MSEK, margin 0.9%.

• Jan–Sep 2024 EBITDA was 108 MSEK, margin 3.2%; EBIT was 49 MSEK, margin 1.5%.

• Operating cash flow was positive in Q3 and equity ratio stood at 27%.

Outlook and guidance

• Strong pipeline of collaboration projects in early phases and ongoing focus on selective project intake to support profitability.

• Market signals indicate potential positive development, especially for collaborative projects.

• Order backlog provides a stable base for 2025, with ongoing cost adjustments and focus on risk reduction in Flodéns.