StrongPoint: A waiting game - ABG

Market remains muted, but new contracts are positive
Targets challenging (earnings likely to land below)
Recovery postponed


Q2e EBITDA of NOK 3m

We anticipate a somewhat soft Q2, driven by continued market weakness where long decision-making cycles and ongoing project delays continue to hamper momentum. Some positive developments have been observed during the quarter, e.g rate cuts in Norway and the announcement of new contracts. However, the overall macroeconomic environment remains cloudy. We expect StrongPoint to report Q2 revenues of ~NOK 330m (up ~10% y-o-y), with a GM at 42.5%, EBITDA of ~NOK 3m, EBIT of NOK -7m and net profit of NOK -8m. StrongPoint had disposable funds of NOK 85m in Q1, which should be sufficient to handle short-term headwinds, although it could be more challenging in the medium term.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/StrongPoint/Equity-research/2025/7/strongpoint---a-waiting-game/