For Q2e we estimate sales of SEK 245m, growing 15% y-o-y, as the company continues the order book realisation seen in the past two quarters.
We estimate an EBITA margin of 6.8% (SEK 17m), up 1.4pp y-o-y on higher sales, which we expect to convert into EPS of SEK 0.57. In recent years, Q2 has tended to be the second-highest margin quarter of the year after Q3. We expect the company to deliver a lease adj. FCF of SEK 13m, corresponding to 126% net income conversion.