Aktuellt
SENASTE
Q4 results largely corroborate our view on Alcadon. Operating cash flow was strong and the better-than-expected earnings were bolstered by positive organic growth. From here, we see earnings growth improving reflecting more confident statements on the market outlook as well as operating leverage (group target EBITA of >10% in 2025). We leave our estimates relatively unchanged and reiterate our SEK 80 equity valuation mid-point.
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