reports
- ABGSC IT Research
- Daniel Thorsson
- Simon Granath
- Joachim Gunell
HMS Networks (Buy, TP: SEK525.00) - Order recovery pushed out
We believe investors are increasingly seeking an entry point in HMS amid the ongoing cyclical correction in factory automation. In our view, orders have troughed, but recent outlook commentary from automation peers and customers suggests a recovery would be more gradual than pent-up, which could push a re-rating into 2025e. We reiterate our BUY but have cut our target price to SEK525 (530).
- ABGSC IT Research
- Daniel Thorsson
- Simon Granath
- ABGSC IT Research
- Daniel Thorsson
- Simon Granath
- ABGSC IT Research
- Daniel Thorsson
- Simon Granath
- ABGSC IT Research
- Daniel Thorsson
- Simon Granath
- Douglas Lindahl
- Joachim Gunell
- Johan Skoglund
- Johannes Grunselius
- Jonatan Andersson
- Karl-Johan Bonnevier
- Martin Arnell
- Joachim Gunell
HMS Networks (Buy, TP: SEK530.00) - Consensus overly negative
Q2 orders were below our forecast and EBIT was 21% above Visible Alpha consensus including Red Lion’s results, which proved margin resilience. We have stronger conviction in our Q3e organic order growth, after eight negative quarters. We reiterate our BUY, but have reduced our target price to SEK530 (535).
- ABGSC IT Research
- Daniel Thorsson
- Simon Granath
- ABGSC IT Research
- Daniel Thorsson
- Simon Granath
Interim report 2024, January - June
Interim report 2024, January - June Second quarter Order intake for the second quarter was SEK 769 m (703), corresponding to an increase of 9% whereof acquired growth was 36% and organic growth was -22%. Currency translations had an effect of on net sales of -5%Net sales reached SEK 845 m (703), corresponding to an increase of 20% whereof acquired growth was 40% and organic growth was -20%. Currency translations had no material effect of on net sales Adjusted EBIT reached SEK 172 m (154), equal to a 20.4 % (21.9) adjusted operating margin EBIT reached SEK 104...
Halvårsrapport 2024, januari – juni
Halvårsrapport 2024, januari – juni Kvartalet Andra kvartalets orderingång uppgick till 769 MSEK (703), motsvarande en ökning med 9 %, varav förvärvad tillväxt står för 36 % och organisk tillväxt -22 %. Valutaeffekter har påverkat koncernens omsättning med -5%Nettoomsättningen uppgick till 845 MSEK (703), motsvarande en ökning med 20 %, varav förvärvad tillväxt står för 40% och organisk tillväxt -20%. Valutaeffekter har i kvartalet ingen väsentlig påverkan på omsättningen Justerad EBIT uppgick till 172 MSEK (154), motsvarande en justerad rörelsemarginal på 20,4 % (21,9) EBIT uppg...
- ABGSC IT Research
- Daniel Thorsson
- Simon Granath
- Joachim Gunell
HMS Networks Minor model adjustments
Ahead of HMS Networks’ Q2 results (due at 07:30 CET on 12 July), we have trimmed our 2024e EPS by 1% to factor in updated FX and softer organic growth amid key customers lowering their 2024 outlooks. We do not consider these changes to be material, and we have not changed our BUY recommendation. We have lowered our target price to SEK535 (540). Q2e EBIT above consensus. We expect investors to take a ‘wait-and-see’ approach to Q2 as the first quarter with Red Lion fully consolidated. We are 13% ...
Invitation to HMS Networks’ second quarter conference call 2024
Invitation to HMS Networks’ second quarter conference call 2024 HMS Networks AB (publ) will release its second quarter report of 2024 on Friday July 12, 2024, at approximately 07.30 AM CEST. On the same day, at 09.00 AM CEST, President and CEO Staffan Dahlström and CFO Joakim Nideborn present the report in a conference call for press and analysts. The presentation is in English and can be followed live via telephone or web. Slides used in the presentation will be made available on HMS’ website prior to the telephone conference. If you wish to participate via webcast, please use the link ...
Inbjudan till HMS Networks telefonkonferens för det andra kvartalet 20...
Inbjudan till HMS Networks telefonkonferens för det andra kvartalet 2024 HMS Networks AB (publ) offentliggör sin rapport för det andra kvartalet 2024 fredagen den 12 juli 2024 klockan 07.30. Samma dag klockan 09.00 arrangeras en telefonkonferens för press och aktiemarknad, där VD och koncernchef Staffan Dahlström samt finanschef Joakim Nideborn presenterar rapporten. Presentationen hålls på engelska och följs direkt via telefon eller via internet. De bilder som används under presentationen kommer finnas tillgängliga på HMS webbplats före telefonkonferensen. Om du önskar delta via webcast...
- ABGSC IT Research
- Daniel Thorsson
- Simon Granath
- ABGSC IT Research
- Daniel Thorsson
- Simon Granath
- ABGSC IT Research
- Daniel Thorsson
- Simon Granath
- ABGSC IT Research
- Daniel Thorsson
- Simon Granath
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