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Green Landscaping Q1: Another strong quarter, above its 8% margin target on LTM basis - SEB

Green Landscaping reported Q1 sales of SEK 886m (-3% vs SEB SEK 911m) and EBITA of SEK 61m (+39% vs SEB SEK 41m). The positive deviation to our earnings forecasts was broad based, with all divisions apart from Finland reporting higher than expected earnings. On an LTM basis, Green has now reached 8.2% EBITA margin. Overall, the deviation implies mid-single-digit revisions to our earnings estimates and is supportive to the investment case.

Green Landscaping reported Q1 sales of SEK 886m (-3% vs SEB SEK 911m) and EBITA of SEK 61m (+39% vs SEB SEK 41m). The positive deviation to our earnings forecasts was broad based, with all divisions apart from Finland reporting higher than expected earnings. On an LTM basis, Green has now reached 8.2% EBITA margin. Overall, the deviation implies mid-single-digit revisions to our earnings estimates and is supportive to the investment case.
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