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CDON: New 2023 EBITDA target of 'at least breakeven'

CDON has published new financial ambitions, including a target to reach EBITDA of "at least breakeven" in 2023. This compares to our current EBITDA forecast of SEK 34m (1.3% margin based on GMV in 2023E). Any "growth investments" or a "further deterioration in macro" are not included in its 2023 EBITDA target. Importantly, the group also outlines an ambition to continuously gain market share and to increase its take rate. For now, we reiterate our mid-point of SEK 450.

CDON has published new financial ambitions, including a target to reach EBITDA of "at least breakeven" in 2023. This compares to our current EBITDA forecast of SEK 34m (1.3% margin based on GMV in 2023E). Any "growth investments" or a "further deterioration in macro" are not included in its 2023 EBITDA target. Importantly, the group also outlines an ambition to continuously gain market share and to increase its take rate. For now, we reiterate our mid-point of SEK 450.
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