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Actic Q1: Slight organic growth and good cost control drives LBIT beat - SEB

Actic Group, reporting Q1 results based only on Actic Nordic, following the divestment of its German and Austrian operations (30 March), is communicating challenging trading on back of muted consumer demand and rising cost inflation. Q1 revenue were exactly in line with our forecasts, while LBIT surprised - suggesting good cost control. Adjusted EPS is in line with our estimates and we are contemplating mostly unchanged forecast revisions. Our DCF mid-point is SEK 11.

Actic Group, reporting Q1 results based only on Actic Nordic, following the divestment of its German and Austrian operations (30 March), is communicating challenging trading on back of muted consumer demand and rising cost inflation. Q1 revenue were exactly in line with our forecasts, while LBIT surprised - suggesting good cost control. Adjusted EPS is in line with our estimates and we are contemplating mostly unchanged forecast revisions. Our DCF mid-point is SEK 11.
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