Sweden's Metacon Q3 revenue declines, loss widens on higher costs

Overview

• Sweden hydrogen systems maker's Q3 revenue fell yr/yr

• Q3 EBITDA loss widened compared to last year

• Higher project costs weighed on earnings due to non-recurring factors and time pressure

Outlook

• Company did not provide specific financial guidance or outlook for the current or future periods in its press release

• Company expects new hydrogen system solutions to improve cost efficiency and market reception

Result Drivers

• HIGHER PROJECT COSTS - Co said significantly higher costs in a major project, driven by time pressure to meet a customer funding deadline, weighed on earnings

• NEW SYSTEM LAUNCHES - Co launched new system solutions for more cost-efficient hydrogen production, which it said were well received by the market

Company press release:

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "buy"

• The average consensus recommendation for the renewable energy equipment & services peer group is "buy"

• Wall Street's median 12-month price target for Metacon AB (publ) is SEK0.12, about 39.5% above its November 3 closing price of SEK0.09

Reuters Recommended Reads

• Nov 4 - Sweden's Orron Energy returns to positive EBITDA in Q3

• Nov 3 - Sweden's Eco Wave Power Q3 net loss narrows 47%, operating expenses down 25%

• Nov 4 - Sweden's Climeon Q3 operating loss narrows

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)