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Arise: Boosted by Kölvallen sale - ABG

Q3 due on Wednesday, 9 November
Sale of Kölvallen the key EBIT driver
Share trading at ~3x adj. EV/EBIT on 2023e


Q3’22 expectations

We expect Arise to deliver a solid Q3 report, with the announced sale of Kölvallen (277 MW) the main driver, adding SEK 795m / EUR 75m to group sales of SEK 848m (SEK 117m in Q3’21). We foresee a group EBIT of SEK 701m with an EBIT margin of 82.7%, resulting in a net profit of SEK 689m.
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