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We forecast Q4 normalised sales of EUR 35.1m, corresponding to 35% y/y growth (of which 19% organic) and adj. EBITA of EUR 12m for a margin of 35%. Based on data from Similarweb we believe the quarter started slowly but quickly regained momentum and finished with a very strong December; AskGamblers’ unique visitors per month showed an 82% y/y increase in December. We reiterate our SOTP-based mid-point valuation of SEK 50.
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