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Green Landscaping: Better than most in Q3 - SEB

We think that Green Landscaping showed relative resilience in Q3, while many other Nordic-exposed business service companies struggled. The consolidation journey remains on track with five acquisitions already closed and two more pending. On our updated figures, the shares now trade at a 2025E EV/EBITA of 10x.

We think that Green Landscaping showed relative resilience in Q3, while many other Nordic-exposed business service companies struggled. The consolidation journey remains on track with five acquisitions already closed and two more pending. On our updated figures, the shares now trade at a 2025E EV/EBITA of 10x.
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