Swedish consulting firm Ework reported a slight growth in its third-quarter sales, with numbers reaching SEK 3,640m, marking a 1% rise against the ABGSCe estimate of 3,619m and a 4% surge year-on-year. This growth was attributed to an 11.8% year-on-year increase in hourly prices on new contracts, influenced by a positive mix and a higher representation of senior consultants.
The gross profit for Ework remained steady at SEK 137m, slightly under the ABGSCe prediction of SEK 138m but consistent year-on-year. EBIT came out at SEK 45m, up by a substantial 50% from the ABGSCe projection of 30m. This EBIT overachievement is credited to lower operational expenses and capitalised development costs of SEK 6m for the quarter. A slight improvement in the gross margin from last quarter's 3.75% to current 3.77% was observed, likely due to an advantageous sales mix.
On the other hand, Swedish technology company Studsvik showed a mixed performance in its third-quarter report. While year-on-year sales remained steady, there was a 5% organic sales downturn and an EBIT dip to SEK 22.9m from SEK 26.1m year-on-year, largely due to Scandpower's zero licence sales.
Three divisions within Studsvik - Decommissioning, Waste Management (NYSE:WM) and an unnamed division - demonstrated year-on-year profitability enhancements despite the overall downturn. The Decommissioning division was notably successful, and Waste Management improved due to licence sales. A strategic alliance with German GNS has elevated the likelihood of future licence sales.
Post-Q3 analysis led to a minor increase in '24e forecasts for Studsvik, counterbalancing lower Scandpower sales with the Decommissioning division's performance.
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