Finwire 11 June - 06:46

Scanfil: Full year 2024 sales guidance midpoint downgraded by 6% - Nordea

Weakness seen in Q1 has continued in Q2 leading Scanfil to downgrade its full year net sales guidance midpoint by 6%. The company’s EBIT margin guidance midpoint remains at 7.1% for 2024. Overall, economic uncertainty combined with high interest rate environment has postponed investments and Scanfil’s customers are still destocking their inventories. End demand has been weak for several of the company's customer segments but we believe Nibe and Kone to drive the volume decline. Scanfil’s customer base include companies like Kone, Valmet, Invisio, Keba, Danfoss, Nibe, Tomra, ABB, Exide and Thermo Fisher Scientific. Previously Scanfil expected recovery in order intake to happen in H2 2024. But expectations have now been postponed to Q4 2024 leading to lower net sales in 2024 than previously anticipated. The new guidance midpoint indicates 10% lower net sales y/y in 2024. Scanfil already used layoffs to secure high utilisation ratios and good efficiency in Q1. We believe that proactive management of utilization ratios will keep relative profitability close to 7% in 2024. However, we expect market consensus for clean EBIT in 2024 to come down by EUR 2.5m (4.2%).

Senaste nyheterna

Se alla
Finwire 19 June - 17:35
Stockholmsbörsen sjönk på onsdagen, OMXS30-index sjönk 0,5 procent
Stockholmsbörsen sjönk på onsdagen. Utvecklingen var blandad på de stora Europabörserna med...
Finwire 19 June - 17:13
Blackrock flaggar ner i Assa Abloy
Kapitalförvaltaren Blackrock har minskat sitt ägande i låsbolaget Assa Abloy till 4,99 procent av...
Finwire 19 June - 17:08
SBB förlänger utbyteserbjudande, betalning av uppskjuten ränta på hybridvärdepapper
Fastighetsbolaget SBB lämnade den 13 juni ett utbyteserbjudande för innehavare av ett stort antal...