HMS Networks AB recently released its third-quarter interim report for 2024, outlining key findings and analysis of the company’s performance. The report highlighted various financial metrics and strategic moves made by the company.
In the third quarter, the order intake saw a significant increase of 37% to SEK 677 million, although organically, there was a decrease of 8%. Net sales slightly increased to SEK 792 million, with organic sales decreasing by 30%. The adjusted EBIT reached SEK 194 million, and the EBIT reached SEK 163 million.
For the first nine months of 2024, the order intake increased by 2% to SEK 1,918 million, while net sales decreased by 1% to SEK 2,253 million. The adjusted EBIT for this period was SEK 503 million. The company also reported on subsequent events, including a new organizational structure for 2025 to enhance customer focus and cross-selling.
Despite a challenging market environment, HMS Networks AB remains focused on maintaining stable profitability. The company’s CEO, Staffan Dahlström, commented on the quarter’s performance, noting the impact of the macro-economic situation on customer demand. He highlighted the effects of inventory adjustments on order intake and revenue, emphasizing the importance of cost control and the positive results of the cost-saving program.
The report also addressed the challenging business environments in Europe and North America, with a more positive outlook for China. Despite these challenges, HMS Networks AB continues to secure new design wins, indicating underlying investments in the company’s technology.
Looking ahead, HMS Networks AB is focused on long-term growth through a balanced approach to costs and strategic acquisitions. The company recently announced the acquisition of PEAK-System Technik GmbH and the divestment of the MB Connect Line business. These moves are aimed at strengthening the company’s position in industrial communications and IoT solutions.
With a strong focus on Industrial Information and Communication Technology, HMS Networks AB is committed to driving growth and innovation in the industry. The company’s leadership team, including CEO Staffan Dahlström and CFO Joakim Nideborn, remains optimistic about the future despite the current market challenges.
Overall, the third-quarter interim report for 2024 reflects HMS Networks AB’s resilience in the face of a challenging economic environment, showcasing its strategic initiatives and financial performance. As the company continues to navigate market uncertainties, it remains focused on delivering value to customers and shareholders alike.
