Ahead of tomorrow's CMD, Alcadon is launching its "Vision 2025", aiming for SEK 2.6bn in sales and SEK 280m (c. 11% margin) in EBITA. This represents a near 40% upside to our forecasts. The group also raises its financial targets over a cycle. Here, sales growth should average at least 20% a year and EBITA should exceed 10% of sales. Net debt/EBITDA should be between 2-3x. We are currently more cautious on margins, while its sales vision is in line with our 2025 estimates.
LÄS MER