Estimate revisions On sales, we lower our estimates on the back of the weaker demand. Given that some of the lowered sales are due to temporary effects, we raise sales growth in 2023e to be flat y-o-y, while we hold ‘24e growth constant. We raise our gross margin assumptions slightly following the continued decrease in warranties, while the non-recurring finalisation of account receivables is not extrapolated. We make only minor revisions to our estimates for opex. In total, we lower ‘22e-‘24e EBIT by 8%-11%.
We lower our fair value range following estimate cuts Our new FV range is lowered to SEK 17-26 per share on the back of our estimate cuts, which corresponds to a ‘23e EV/EBIT of 4x-7x. At the current share price level, Doro is trading at a ‘22e-‘23e EV/EBIT of 8x-4x. Läs mer på ABG Sundal Collier
Aktuellt
SENASTE
