Mainly due to profitability challenges in Home Furnishing, the report was a slight disappointment, although the solid organic growth figures are reassuring on a mid-term basis. We expect consensus ’21 estimates to come down by 3-4% but ‘22e 2-3% on the back of the soft margin in Home Furnishing. BHG will hold a conference call at 10:00 a.m. Call in details: +46 8 566 427 06
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