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SENASTE
Based on site traffic data and online retail market growth, we estimate CDON is sustaining its positive trend from December last year into Q1. We have made slight increases to our forecasts, mainly reflecting its ongoing SEK 60-65m savings programme aiming for “at least EBITDA breakeven in 2023”. The recent EGM approved the pending consolidation of Fyndiq, which, pro forma 2022, would add 24% to group total gross merchandise value (GMV).
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