Swedencare
Swedencare - Strong June and July activity (ABG Sundal Collier)

2020-07-24 09:28
Sales 32m (+17% vs ABGSCe)
EBIT 5.7m (ABGSCe 1.5m)
Through the trough – guiding for strong July start
Strong report, 40% of sales in June
Swedencare’s Q2 report was significantly stronger than we expected. Covid-19 driven lock-downs has not affected the company as much as we expected, and the organic growth came in at 0% (ABGSCe -14%). June is said to have stood for 40% of the quarter’s sales, and the guidance from customers indicate that the trough was seen in Q2.

Q2 details
Sales +5% y-o-y to SEK 32m (+17% vs. ABGSC 27.4m). Gross margin +2pp. y-o-y to 73.9% (vs. ABGSCe 70%). This was an effect of ProDen Plaqueoff (high gross margin products) growing to 85% of sales (Q2’19: 78%). EBIT SEK 5.7m (ABGSCe 1.5m), for a margin of 17.7% (vs. ABGSCe 5.5%). Acquisition costs related to the Stratford acquisition of 1.5m have been booked during the quarter.

Strong recovery, positive signs for H2’20
Swedencare’s Q2 report proves the resilience of the business. Furthermore, the positive comment about a high tempo in July shows us the volume recovery is coming faster than we initially anticipated.


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  • Läsaren av innehållet kan anta att ABG Sundal Collier har erhållit eller kommer att erhålla betalning för utförandet av finansiella företagstjänster från bolaget. Ersättningen är på förhand avtalad och är inte beroende av innehållet.

info@introduce.se (Introduce.se)
ABG Sundal Collier - Introduce.se

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