Sweden's C Rad Q3 revenue falls on weaker EMEA and APAC sales

By Reuters News


Overview

  • Sweden-based radiotherapy imaging firm's Q3 revenue fell 24% on weaker EMEA and APAC sales

  • Order intake dropped 29% as investment decisions were postponed in several markets

  • Company wrote off MSEK 93 from order backlog after a major U.S. order cancellation


Outlook

  • C-RAD aims to improve commercial conversion in priority markets for the rest of the year

  • Company plans to increase share of recurring revenues from its installed base

  • C-RAD will continue investing in product development and partnerships


Result Drivers

  • REGIONAL WEAKNESS - Co said revenue and order intake declines were mainly due to weaker performance and postponed investments in EMEA and APAC

  • SERVICE REVENUE - Gross margin improved due to a higher proportion of service revenue and some proton deliveries

  • RESTRUCTURING MEASURES - Cost discipline and restructuring helped offset some impact from lower volumes, per CEO Tomas Blomquist


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

SEK 0.31

Q3 Net Income

SEK 10 mln

Q3 EBIT

SEK 10 mln


Analyst Coverage

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

  • The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"

  • The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 18 three months ago


Reuters Recommended Reads

  • Oct 21 - Sweden's Getinge Q3 organic sales rise 2.1%

  • Oct 22 - Sweden's XVIVO Q3 revenue beat expectations on thoracic sales

  • Oct 22 - Sweden's Arjo Q3 revenue beats estimates, gross margin expands


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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