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Sweden's Bonava Q3 sales miss; lowers FY forecasts

By Reuters News


Overview

  • Sweden-based residential developer's Q3 net sales and EBIT missed analyst expectations

  • Company raised gross and EBIT margins yr/yr for Q3

  • Bonava cut 2026 outlook for operating margin and net sales growth


Outlook

  • Bonava lowers 2026 operating margin outlook to about 7% from previous 8–9%

  • Company now expects 2026 net sales to grow about 10% vs 2025, down from 20–25% forecast

  • Bonava implementing cost-reduction measures in Germany to improve efficiency in Q4


Result Drivers

  • UNIT SALES AND STARTS - Co reported increased number of housing units sold and production starts in Q3

  • SWEDISH TURNAROUND - CEO said Swedish operation showed clear turnaround in Q3

  • COST REDUCTION MEASURES - Co said it is implementing cost-reduction measures, mainly in Germany, to improve efficiency


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

Miss

SEK 2.22 bln

SEK 2.60 bln (4 Analysts)

Q3 Gross Margin

14.10%

Q3 EBIT

Miss

SEK 168 mln

SEK 209 mln (4 Analysts)

Q3 EBIT Margin

7.60%


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the real estate rental, development & operations peer group is "buy"

  • Wall Street's median 12-month price target for Bonava AB (publ) is SEK13.00, about 49.8% above its October 21 closing price of SEK8.68

  • The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago


Reuters Recommended Reads

  • Oct 21 - Sweden residential developer JM's nine-month profit rises on production activity

  • Oct 21 - Fabege Q3 profit rises on residential development

  • Oct 21 - Sweden's Neobo Q3 profit from property management rises on lower costs


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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