Addnode Group: Impairment losses and acquisition costs affected earnings negatively
Today, Addnode Group presented their report for the third quarter. Sales came in at SEK 534. 5m, which was in line with our expectations of SEK 540. 3m.
On the negative side, EBITA came in at SEK 24. 3m compared to our expectations of SEK 41. 8m, mainly explained by impairment losses for customer projects in PLM, and external acquisition costs.
However, we have confidence in Addnode’s ability to deliver in coming quarters.