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Footway recorded 10% y/y growth in Q4, burdened by Covid-related issues in supply chain and volatile demand. CEO Daniel Muhlbach states that January too has been weak and some issues are expected to continue to burden near-term developments. Separately, Footway has announced a 1:1 rights issue totalling SEK 151m to address its current net debt position of SEK 278m. WC management in Q4 was good, as expected. Our pre-rights issue mid-point is SEK 30 (under review).
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