FM Mattsson Mora Group (FMM-B) Q3 2024 earnings summary

Executive summary

• Net sales for Jan–Sep 2024 were SEK 1,414.6m, down 5.0% year-over-year; Q3 sales fell 4.4% to SEK 429.4m.

• EBITA for Jan–Sep was SEK 145.7m (10.3% margin), impacted by SEK 2.4m in one-time staffing optimization costs.

• Result per share for Jan–Sep was SEK 1.98, down from SEK 3.03 year-over-year.

• Cash flow after investments improved to SEK 116.2m for Jan–Sep.

• No significant events occurred during or after the quarter.

Financial highlights

• Q3 organic sales growth was -2.6%; Jan–Sep organic growth was -4.8%.

• Q3 EBITA was SEK 38.3m (8.9% margin), adjusted EBITA SEK 40.8m.

• Jan–Sep EBITA margin was 10.3% (13.2% prior year), adjusted EBITA SEK 148.2m.

• Bruttomarginal for Jan–Sep improved to 37.8% (37.0%).

• Net income for Jan–Sep was SEK 83.9m, down from SEK 128.2m year-over-year.

Outlook and guidance

• Management expects continued challenging market conditions into 2025, especially in new construction and private renovation segments.

• Long-term demand remains positive, especially for products with design, sustainability, and local service advantages.

• No formal financial forecast for 2024 was provided.