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Investing.com -- Enad Global 7 shares plunged 26% after the company reported third-quarter results that fell short of expectations. The gaming company missed KC revenues by 13% and adjusted EBITDA by 23%.
While cash flow after capital expenditures was negative, it performed slightly better than anticipated due to a reversal in net working capital. A tax effect was noted as the main positive in the results, though analysts indicate this benefit is unlikely to continue in future quarters.
In a significant development, Enad Global 7 announced that its Cold Iron project has been delayed until Q3 2026, pushed back from the previously expected Q1 2026 release. The company has committed additional funding of up to $6.5 million for the project.
Prior to this announcement, the Cold Iron project had been forecast to generate SEK 245 million in EBITDA for 2026 in previous financial projections.
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