Norway's Goodtech Q3 net operating revenue rises 4.3%
Overview
Norway industrial automation firm's Q3 net operating revenue rose 4.3% yr/yr to NOK 121.6 mln
Q3 EBITA declined yr/yr as investments in new hub weighed on margins
Company signed NOK 240 mln Nussir EPC contract after quarter-end, boosting backlog visibility
Outlook
Company says Nussir contract strengthens backlog visibility and supports future activity levels
Goodtech expects broad market exposure to support continued profitable growth
Company says recurring After-Sales and Service revenue expected to support revenue resilience
Result Drivers
AFTER-SALES AND SERVICE - Co said strong growth in After-Sales and Service revenue contributed to more recurring and higher-margin revenue streams
INVESTMENTS IN CAPACITY - Co said investments in new Kristiansand hub expanded engineering capacity but negatively affected Q3 margins
ENGINEERING AND DIGITALIZATION - Co said continued growth in engineering, service and digitalization activities supported revenue
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Net Operating Revenue | NOK 121.60 mln | ||
Q3 EBITA | NOK 8.50 mln | ||
Q3 Order Backlog | NOK 281 mln | ||
Q3 Order Intake | NOK 130.50 mln |
Analyst Coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy."
Wall Street's median 12-month price target for Goodtech ASA is NOK19.00, about 20.3% above its October 29 closing price of NOK15.80
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago
Reuters Recommended Reads
Oct 28 - Norway's Aker Solutions Q3 revenue and EBITDA miss analyst estimates
Oct 29 - Finland's Incap Q3 revenue rises on acquisition and defense demand
Oct 27 - Sweden's Prevas Q3 sales, EBITA flat; cash flow improves
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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.)