Q3 2023 Axactor ASA Earnings Call Transcript
Good morning, and welcome to Axactor's third quarter presentation for 2023. This presentation will be divided into four parts. First, I will take you through the highlights of the quarter then our CFO, Nina Mortensen will present Q3 financials before we give an updated outlook and round off with a Q&A session. You may ask questions live after the presentation or through the available chat function.
Now let us move to slide 3 and have a look at the third quarter highlights. Gross revenue grew 3% year-over-year and measured in constant currency, the growth was 5%. The increase in gross revenue is achieved despite macroeconomic headwinds in Germany and in the Nordic.
Cash EBITDA was up 2% year-over-year and in constant currency 5%. The EBITDA margin has stabilized at a high level, reaching 54% for the quarter. Actual EBITDA ended at EUR34 million, up from EUR30 million same quarter last year.
We delivered a return on equity of 6%. However, we had a significant one-time cost related to the refinancing of ACR02 and adjusted for this, the return
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