Scandinavian Astor Group AB – Corporate Developments and Financial Performance
Merger of Subsidiaries
Scandinavian Astor Group AB announced that its wholly‑owned subsidiaries JPC Composite AB and Marstrom Composite AB will merge.
- The merger plan was adopted by the Board and will become effective after registration with the Swedish Companies Registration Office.
- JPC will be fully absorbed into Marstrom, which will continue to operate as the independent entity.
- The transaction is not expected to impact day‑to‑day operations or the strategic focus of the Group.
Third‑Quarter Financial Results
On 17 October 2025 the Company released its preliminary third‑quarter results, which surpass market expectations:
| Item | Third‑Quarter 2025 | Same Quarter 2024 |
|---|---|---|
| EBITDA | ~ 15 million SEK | –3.9 million SEK |
| Revenue | ~ 79 million SEK | (not disclosed) |
| Profit before Tax | ~ 3 million SEK | (not disclosed) |
The positive swing in EBITDA reflects a reversal from a negative operating result in the corresponding period a year earlier. Revenue growth was driven by increased demand for the Group’s defense‑related composite products.
Market Reaction and Analyst Coverage
Pareto Securities updated its rating on 15 October 2025, maintaining a “buy” recommendation but lowering the target price from 45 SEK to 43 SEK.
- The downgrade reflects a perceived short‑term weakness in the quarter ahead, although the firm expects momentum to return in Q4.
- At the time of the revision, the stock was trading at roughly 12.8 × EV/EBITDA for 2026 expectations, following a decline of about 55 % since June.
The stock price on 15 October 2025 closed at 2.25 EUR (approximately 12.8 SEK), below the 52‑week low of 0.739 EUR (2024‑11‑18) and well under the 52‑week high of 4.6 EUR (2025‑06‑03).
Summary
Scandinavian Astor Group AB’s recent actions focus on consolidating its composite manufacturing operations through the merger of JPC into Marstrom, while the Group reports a strong turnaround in profitability for the third quarter of 2025. Analyst coverage indicates cautious optimism, with a revised target price that acknowledges short‑term volatility but supports a long‑term growth narrative.
