In tough conditions for discretionary spending, G4M grew sales in Q4, implying market share gains continued. Some of this growth, however, reflects efforts to reduce elevated stock levels. This has impacted gross margin and profits, with Mar’23/Mar’24 EBITDA downgraded c15%. However, the goal of reducing net debt was a success, falling more than markets expected and rolling through to outer years. Leverage is well within the bank’s covenants. Margins and FCF can build from here in the absence of ....
06 Apr 2023
Margin hits forecasts, but debt substantially reduced
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Margin hits forecasts, but debt substantially reduced
Gear4music (Holdings) PLC (G4M:LON) | 137 0 0.0% | Mkt Cap: 28.7m
- Published:
06 Apr 2023 -
Author:
Matthew McEachran -
Pages:
3
In tough conditions for discretionary spending, G4M grew sales in Q4, implying market share gains continued. Some of this growth, however, reflects efforts to reduce elevated stock levels. This has impacted gross margin and profits, with Mar’23/Mar’24 EBITDA downgraded c15%. However, the goal of reducing net debt was a success, falling more than markets expected and rolling through to outer years. Leverage is well within the bank’s covenants. Margins and FCF can build from here in the absence of ....