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Green Landscaping: Entering a period of harvesting - SEB

Ahead of the Q3 report on 11 November, we make minor estimate changes and reiterate our mid-point DCF value of SEK 91 per share. The equity story is largely dependent on continued consolidation, where we think that Green Landscaping has improved its position, following a recent capital raise (SEK 150m) and geographical expansion (Finland). Recent M&A has also improved the margin profile, due to an increasing portion of landscaping services.

Ahead of the Q3 report on 11 November, we make minor estimate changes and reiterate our mid-point DCF value of SEK 91 per share. The equity story is largely dependent on continued consolidation, where we think that Green Landscaping has improved its position, following a recent capital raise (SEK 150m) and geographical expansion (Finland). Recent M&A has also improved the margin profile, due to an increasing portion of landscaping services.
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