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SENASTE
Green Landscaping reported Q1 sales of SEK 1,383m (+9% vs SEB SEK 1,264m), EBITA of SEK 90m (11% vs SEB SEK 81m) for EBITA margin of 6.5% (+0.1pp vs SEB 6.4%). Organic growth was strong at 8%. Norway and Sweden came in clearly ahead of our estimates, slightly supported by winter conditions, while Rest of Europe was seasonally slow. At first glance, the earnings deviation implies mechanical upgrades of c. 2% to our estimates.
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