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BTS Group: Q3 miss but guides for the best Q4 ever - ABG

Q3 sales -5% vs ABGe, EBITA -36% on weak margins
FY guidance unchanged, implying ~25% EBITA gowth in Q4e
Estimates slightly down and share to underperform


Q3 details

Sales SEK 633m (-5% vs ABGSCe 670m, no cons), adj. EBITA 53m (-36% vs ABGSCe 84m), adj. EBITA margin 8.4% (ABGSCe 12.5%). FX adj growth -1% (vs ABGSCe 6%). Adj. EBITA -19% y-o-y (vs ABGSCe 27%).
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