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SENASTE
Green Landscaping reported Q2 sales of SEK 1,657m (4% vs SEB SEK 1,594m), EBITA of SEK 143m (-7% vs SEB SEK 154m) for EBITA margin of 8.7% (-1pp vs SEB 9.7%). Organic growth solid at 5% (SEB: 1%). The earnings deviation compared to our expectations was partly related to higher group costs, but also Norway and Sweden came in below our expectations. At first glance, the earnings deviation implies mechanical downgrades of c. 2% to our EBITA estimates.
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