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G5 Entertainment: Elementary, my dear Watson - SEB

We expect another challenging quarter for G5 with forecasted negative organic growth of 5%; but we expect a normalisation of UA spend and return to historical levels of EBIT (SEBe SEK 48m EBIT). We believe it is too early to tell if the UA push made in Q2, and partly Q3, was a success and expect the full effect in Q4/22-Q1/23. FX tailwinds continued in the quarter and will most likely do so in Q4 as well.

We expect another challenging quarter for G5 with forecasted negative organic growth of 5%; but we expect a normalisation of UA spend and return to historical levels of EBIT (SEBe SEK 48m EBIT). We believe it is too early to tell if the UA push made in Q2, and partly Q3, was a success and expect the full effect in Q4/22-Q1/23. FX tailwinds continued in the quarter and will most likely do so in Q4 as well.
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