With a comprehensive offering to drastically improve the operating net for property owners, Free2Move looks to continue its strong growth momentum both organically and through acquisitions while reaching positive EBITDA this year. The order book at SEK 40m stands in stark contrast to the SEK 30m Pre-Money Market Cap and bolsters our SEK 100m revenue forecast for 2024. Adjusted for the upcoming rights issue of SEK 21m to enable additional acquisitions and to develop the offering further, target multiples of 2x Sales’24 and 12x EBITDA’24 support a fair value range of SEK 0.57-0.69 per share in 12-24 months, with further upside towards SEK 1.9-2.1 on a 3-5 year horizon.
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