Story
AFRY Q2 Sales Beat Estimates, but Profitability Misses as Restructuring Ends
Swedish engineering consultancy AFRY reported second-quarter net sales that slightly surpassed analyst expectations, though its profitability missed estimates as the company concluded a significant restructuring effort.
Q2 Performance
AFRY's net sales for the second quarter came in at SEK 6.51 billion, just ahead of the SEK 6.48 billion average estimate from four analysts. The figure represents a 2.4% decline compared to the same period last year. The company stated that calendar effects had a negative impact on both sales and earnings during the quarter.
On the profitability front, adjusted EBITA (Earnings Before Interest, Taxes, and Amortization) was SEK 434 million, falling short of the consensus forecast of SEK 473.88 million. The company also reported a final EBITA of SEK 379 million and an EBIT of SEK 336 million for the period.
AdStrategic Shift to Growth
AFRY announced the completion of its restructuring program, which was designed to optimize its business portfolio and adjust operational capacity. The company noted that it has a higher order backlog and an improved utilization rate, but stated these positive developments have not yet been reflected in its financial results.
With the restructuring now complete, AFRY said it is shifting its strategic focus toward achieving organic growth. The company aims to leverage this new phase to capture improvements in profitability going forward.
Read next
More on Stocks
FTC Orders Walmart, Uber, Delta to Disclose Data on Personalized Pricing
The U.S. Federal Trade Commission is demanding nine major companies, including leading retail, travel, and gig economy firms, to provide information on how they use consumer data for setting individual prices and wages.
Google Launches Gemini 4 Carbon AI Model to Bolster Cybersecurity Capabilities
Alphabet's Google has unveiled Gemini 4 Carbon, its latest AI model specifically designed for advanced cybersecurity tasks like vulnerability detection and secure code generation. The launch escalates competition with rivals OpenAI and Anthropic in the enterprise AI market.
Oracle Shares Surge After Unveiling $225 Billion Revenue Target for 2030
Oracle stock rose sharply after the company presented a long-term financial outlook targeting at least $225 billion in annual revenue by fiscal 2030, driven by its expanding AI infrastructure business.
DOJ Scrutinizes Nvidia's $12.9B Hugging Face Deal Amid Broader Antitrust Probe, Sources Say
The U.S. Department of Justice is reportedly examining Nvidia's planned $12.93 billion acquisition of AI platform Hugging Face as part of a wider, ongoing antitrust investigation into the chipmaker's market conduct.