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Investing.com -- Swedencare delivered a strong third quarter performance on Wednesday with net revenue of SEK 712.9 million, exceeding consensus estimates by 2% and marking an 11% year-over-year increase.
The company reported organic growth of 15% for the quarter, a significant acceleration from the 7% seen in Q2. Operational EBITDA reached SEK 154.9 million, 9% above expectations, with the margin improving by 0.5 percentage points year-over-year to 21.7%.
Growth was widespread across regions, with Europe posting 19% organic growth. The UK market was particularly strong with 36% organic growth, driven by performance in online and veterinary channels. North America achieved 18% organic growth, boosted by successful launches into major retailers Walmart and CVS.
By product category, Pharma showed the strongest performance with 106% year-over-year growth to SEK 53.9 million. Treats grew 50% to SEK 16.7 million, while Dental products increased 28% to SEK 135.7 million.
Topicals/Dermatology rose 4% to SEK 152.3 million, while Nutraceuticals was the only category showing a decline, down 2% to SEK 314.2 million.
Operational EBIT increased 16% year-over-year to SEK 132.5 million, with the margin improving to 18.6% from 17.9% in the same period last year.
Management reaffirmed its full-year guidance for double-digit organic growth and expressed expectations for continued profitability improvements as scale benefits and marketing investments yield results.
The positive quarterly results may help stabilize sentiment around the company following a period of underperformance.
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