As a retail investor, I am happy to see the companies release their performance figures, though the results could go in either direction, it gives us, the investors, a glimpse into their financial figures, which shows the reality. Here are few companies that I highlighted which are in my portfolio.
Axfood’s report was not really a newsstand overturned and came in roughly in line with expectations. There was an increased operating profit, which was eaten up by increased shop and warehouse rents.
” Despite high comparative figures, Axfood delivered a very strong growth of 13 percent during the quarter, to be compared with the growth in the grocery trade of 6 percent,” writes CEO Klas Balkow
The price has moved quite a lot south lately.
Intrum continues its journey to reach a lower level of indebtedness. The problem is that many investors might have already lost hope as the company previously had problems delivering based on its goals.
Indebtedness is therefore in focus and this fell in the quarter by 0.2x to 4.4x.
We have taken a number of important steps in improving and strengthening Intrumand I feel confident that we are on the right track, writes Intrum’s CEO
In the report, it is also written that the pressure from customers is getting higher as more and more people are now having payment problems.
Holmen reports strongly, I would say, and little did we already know when Stora Enso had already reported. The operating margin was a whopping 22%, clearly higher than the 18.4%
Holmen has product services in many different areas and not only in forest ownership. In the report, it is written that cardboard is doing rather poorly as consumers do not open their wallets as quickly.
Restrained consumers and continued destocking meant that demand for cardboard for consumer packaging was weak.
The construction industry is having a tough time, I don’t think anyone has missed that.
JM is the Nordic region’s leading project developer of housing and residential areas. And housing, yes it is really needed right now. Unfortunately, it is completely unprofitable to build new, and that is really evident in today’s report from JM.
“Rising market interest rates together with uncertainty about further interest rate increases contribute to customers waiting to buy a new home,” writes the company’s CEO in the report.
Now they have lowered the price of some homes where sales have been slow as syrup.
“At the same time, we see that there is a large underlying demand for JM’s homes. I note that we are still well positioned with a fine project and building rights portfolio and despite the uncertainty in the outside world, the fundamental and long-term conditions for our business are still good.”
So far this year, they have achieved SEK 8.9/share in profit and last year that figure was SEK 14.5.
However, I think the company is standing strong and if you can wait out the storm, I think you will get back on your feet.
Atlas Copco was really the only company that for me delivered a report that positively pushed the boundaries. In short, it beats expectations on all points and delivers the highest profitability in six years.
That the share “only” rose by 3% is a sign that the market has already priced in that the report would be good. If there had been worse numbers today, then there would have been a fall.
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