Swedbank and EQT report winners, Essity report loser
January 23, 2025 at 03:32 am EST
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The Stockholm Stock Exchange started Thursday's trading in an irregular trend. The Swedish fourth quarter reporting season started in earnest with several heavyweights.
After 25 minutes of trading, the OMXS30 index was down 0.06 percent to 2,646.41. During the day, the index has moved within the range -0.14 percent at its lowest and 0.32 percent at its highest.
The broad OMXSPI was up 0.14 percent.
Swedbank was the first of the major banks to report and the numbers were stronger than expected across the board. The board of directors raised the dividend policy and increased the dividend by 43 percent to SEK 21.70 per share, which was significantly higher than expected. Private equity firm EQT is also a report winner. Here the dividend is increased by just over 19 percent to SEK 4.30 per share.
The hygiene and health company Essity's report thus showed a worse adjusted ebita result than expected. The dividend is proposed to be increased by 6.5% to SEK 8.25 per share. CEO Magnus Groth announced his intention to step down after ten years as CEO.
Share price
Change in share price
Commentary
EQT
6,4%
Rising adjusted earnings and adjusted ebitda, dividend increased by 19 percent
Swedbank
5,1%
Better-than-expected report across the board, dividend increased by 43 percent
Sandvik
3,6%
Order intake came in higher than expected, dividend increased by 4.5 percent
Invisio
-0,8%
SEB lowers to hold (buy), target price SEK 345 (310)
Linc
-0,8%
Net asset value of SEK 83.40 per share at year-end
Paradox
-2,1%
Carnegie lowers to hold (buy), reiterates target price of SEK 225
Evolution
-2,6%
Deutsche Bank cuts to sell (hold), target price SEK 798 (1,071)
Investor
-2,8%
Adjusted net asset value of SEK 317 per share, dividend increased by 8.3
Creades
-3,4%
Net asset value of SEK 75 per share at year-end, unchanged dividend
Essity
-5,9%
Adjusted ebita earnings worse than expected, CEO Magnus Groth resigns
Essity AB is one of the world's leading manufacturers of hygiene products. Net sales break down by family of products as follows:
- human care products (40.3%): incontinence products (Tena), feminine protection products (Libresse, Bodyform, Nana, Nuvenia, Saba, Nosotras, Donnasept, etc.), diapers (Libero, Up & Go, Libero-Peaudouce, Drypers, Pequenin, etc.), compresses and bandages.
- paper hygiene products (32.6%): paper towels, toilet paper, handkerchiefs, wipes, etc. sold under Tempo, Colhogar, Cozy, Cushelle, Danke, Delica, Demak Up, Favorita, Flen, Lotus, Lovly, Okay, Plenty, Regio and Zewa brands;
- professional hygiene products (26.8%): including toilet paper, handkerchiefs, hand lotions and hand soaps, hand sanitizers, as well as cleaning and wiping products;
- other (0.3%).
At the end of 2023, the group operated around 70 production sites in the world.
Net sales are distributed geographically as follows: Europe (60.3%), North America (17.4%), Latin America (17.1%), Asia (1.6%), and other (3.6%).