Bredband2: Solid customer intake, but weak margins - ABG

Sales +2% vs. ABGSCe, but EBITA 17% below
Good customer intake, but margins weighted by investments
Expect cons to cut '25e EBITA by c. 7%


Q1 results

Sales SEK 456m (2% vs ABG 449m), EBITDA 67m (-9% vs ABG 73m), EBITA 38m (-17% vs ABG 45m), EBIT 32m (-19% vs ABG 39m), EPS 0.03 / share (-18% vs ABG 0.03 / share). FCF (excl. leasing and M&A) was slightly weaker than expected at SEK 38m (ABG 42m).

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/bredband2/Equity-research/2025/5/bredband2---solid-customer-intake-but-weak-margins/