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In a separate announcement, CDON confirms a "SEK 60-65m" savings programme to be implemented in anticipation and "signs of a weaker economy". We argue this is ensuring closer to EBITDA breakeven next year, as previously guided for and reiterated in relation to communicating the departure of CEO Peter Kjellberg. Our 2023 forecasts currently imply EBITDA of SEK 3m. While our GMV assumptions may prove too optimistic ahead, these measures should bolster our earnings forecasts.
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