Swedish construction firm Wästbygg Q3 revenue falls on lower volumes

Overview

• Sweden construction and development firm's Q3 revenue declined yr/yr as market challenges persisted

• Company returned to positive operating profit after prior-year loss

• Improved results driven by restructuring and profitability measures

Outlook

• Company did not provide specific financial guidance or outlook commentary for future periods

Result Drivers

• LOWER GROUP VOLUMES – Revenue fell to SEK 621 mln from SEK 911 mln as volumes declined across the Group

• RESTRUCTURING MEASURES - Co said improved profitability and return to positive profit were due to restructuring and focus on profitability

• WÄSTBYGG COST AND PROJECT MANAGEMENT – Wästbygg returned to operating profit as its organisation was aligned with lower volumes and ongoing projects remained profitable

Company press release:

Key Details

Analyst Coverage

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

• The average consensus recommendation for the homebuilding peer group is "buy."

• The stock recently traded at 1 times the next 12-month earnings vs. a P/E of 2 three months ago

Reuters Recommended Reads

• Nov 5 - Sweden's Skanska Q3 revenue beats on construction segment growth

• Nov 4 - Sweden's Nobia Q3 EBIT misses estimates as supply chain, ramp-up costs weigh

• Nov 4 - Construction firm NYAB Q3 operating profit rises on order intake

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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.)