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SENASTE
While the post-Covid-pandemic turnaround looks set to continue in Actic Group, a leading gym club operator in Sweden and Norway, post the Q1 divestment of its German operations, we expect a slightly more challenging second half in 2023, reflecting pressure on consumer discretionary spending and cost inflation (electricity, wages). Based on rather unchanged forecasts for 2023 and slight increases for 2024-25, we maintain our mid-point of SEK 8.
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