Sweden's Maven Wireless Q3 sales rise on European demand

By Reuters News


Overview

  • Sweden indoor wireless coverage provider's Q3 net sales grew yr/yr, driven by European demand

  • EBITDA and operating profit turned positive after losses in prior year

  • Company disclosed targeted fraud incident, tightened internal financial controls


Outlook

  • Company maintains strategic priorities to drive profitable growth and improve cash flow

  • Maven Wireless enters Q4 with a lower cost base and higher order intake year-to-date

  • Company continues to invest for growth in new markets and products


Result Drivers

  • EUROPEAN SALES - Majority of Q3 sales came from Europe, with mix of cellular, critical communications and combined products

  • ONE-OFF AGREEMENT - Gross margin improved to 53%, supported by a one-off agreement without material delivery to a key framework agreement customer

  • ORDER INTAKE - Q3 order intake increased yr/yr, including 2 new customers in UK and Sweden


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

SEK 41.86 mln

Q3 EBITDA

SEK 2.58 mln

Q3 Operating Profit

SEK 476,000

Q3 Orders

SEK 34.90 mln


Analyst Coverage

  • Wall Street's median 12-month price target for Maven Wireless Sweden AB is SEK6.00, about 31% above its October 15 closing price of SEK4.58


Reuters Recommended Reads

  • Oct 15 - Sweden's OEM International Q3 sales beat estimates, partly on acquisitions

  • Oct 15 - Sweden's MilDef Q3 sales surge on increased delivery rate

  • Oct 15 - Ericsson braces for component cost hit after third-quarter profit beat


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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