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Swedish industrial company AQ Group reported substantial financial growth in Q3 2023 due to high demand across various industries. The net sales increased by 26% to SEK 2,149 million, operating profit rose by 63% to SEK 201 million, and profit before tax grew by 61% to SEK 195 million. Profit after tax surged by 72% to SEK 172 million, while cash flow from operating activities reached SEK 339 million.
For the first nine months of the year, the company’s net sales grew by 33% to SEK 6,747 million, operating profit surged by 75% to SEK 599 million, and profit before tax improved by 66% to SEK 575 million. Profit after tax rose by 79% to SEK 502 million, with cash flow from operating activities hitting SEK 742 million. According to InvestingPro, AQ Group’s market cap stands at an adjusted 1043.84M USD, with a promising P/E ratio of 2.34 and a PEG ratio of -0.05, suggesting a potential undervaluation of the stock.
CEO James Ahrgren attributed the profitability improvement to the effectiveness of AQ’s decentralized model with customer responsibility and productivity enhancements in Mexico, Estonia, Poland, the USA, and Canada. The company expanded its wiring systems factory in Lodz, Poland during Q3, boosting capacity.
Despite political and economic uncertainties, AQ projects continued growth due to its strong presence in electrification and energy efficiency sectors. The company targets a 15% annual growth rate in turnover and profit. InvestingPro Tips suggests that AQ Group yields a high return on invested capital and pays a significant dividend to shareholders, making it a potentially attractive option for investors. For more insights like these, interested readers can check out InvestingPro’s offerings here.
In other news today, Fabege AB reported an increased rental income of SEK 2,539m and a net operating income of SEK 1,900m despite higher interest expenses and yield requirements. However, the company’s property values faced pressure resulting in a loss of SEK -5,415m which affected post-tax profit that stood at SEK -3,527m and earnings per share at SEK -11.21.
Micronics Q3 report showed a decrease in order intake by 9% to SEK 1,467 million, while net sales rose by 5% to SEK 1,274 million. Despite a drop in Q3 order intake due to high order intake in the previous year’s corresponding period, the CEO emphasized that annualized order intake still surpasses the 2023 net sales target.
Elos Medtech AB’s net sales rose by 8.5% to SEK 251.2 million in Q3 2023, with a 4.3% increase in local currency sales. Operating profit was SEK 31.7 million (12.6% margin). After net financial items, which included SEK 7.5 million in exchange rate differences, the profit was SEK 30.9 million.
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