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Actic: Efficiencies bolster margins - SEB

Ahead of Actic Group's Q2 report, we leave our forecasts unchanged and we reiterate our DCF-based mid-point equity value of SEK 11 per share. In Q2 we are looking for net sales of SEK 173m which implies 2.9% organic growth mainly from APRM improvements. On the back of cost management and the closure of one facility, we forecast an adjusted EBIT margin of 4.4% for an adj. EBIT of SEK 7.6m. The shares are valued at 0.64x our 2024 EV/Sales estimates (ex. IFRS-16).

Ahead of Actic Group's Q2 report, we leave our forecasts unchanged and we reiterate our DCF-based mid-point equity value of SEK 11 per share. In Q2 we are looking for net sales of SEK 173m which implies 2.9% organic growth mainly from APRM improvements. On the back of cost management and the closure of one facility, we forecast an adjusted EBIT margin of 4.4% for an adj. EBIT of SEK 7.6m. The shares are valued at 0.64x our 2024 EV/Sales estimates (ex. IFRS-16).
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