Redeye provides an initial take on Arise’s Q4 report. We consider the report to be strong, and the production segment managed to live up to our expectations, generating higher-than-expected sales and adj. EBITDA. The development segment also managed to beat our estimates, which seems to be primarily driven by Kölvallen being recognised in the P&L to a larger extent than expected. We find the report solid, especially with the Q3 report fresh in mind, where investors were surprised by the production/price dynamics in the production segment. We, therefore, believe this report should restore investors’ confidence in the production segment.
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