Nexam Chemical: Lower sales but higher gross margin - ABG

Sales -7%, adj. EBIT -2.7m vs. ABGSCe
Gross margin at record high level 48% (45%)
Performance Chemicals sales -20% y-o-y due to weak end-markets


Q1 results

Nexam reported lower than expected sales of SEK 49m (-7% vs. ABGSCe 53m), -7% y-o-y. Performance Masterbatch sales increased by 5% y-o-y, while Performance Chemicals sales continued to decline for the third consecutive quarter due to lower deliveries of lightweight additives. EBIT adj. was SEK -2.8m (vs. ABGSCe -0.1m), for a margin of -6%. However, costs remain under control and the gross margin reached a record high of 48% (45%), and the EBIT miss is thus due to the lower sales volumes. The company generated FCF lease adj. of SEK -0.55m (vs. ABGSCe 8.7m) and ended the quarter with a cash balance of SEK 1.1m (9.9m).

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/nexam-chemical/Equity-research/2025/4/nexam-chemical---lower-sales-but-higher-gross-margin/