Green's Q3 report was solid, with sales mostly in line with our expectations and EBITA 17% above. Organic growth amounted to 0% (vs SEBE 2%), ok in our view. The earnings beat was driven by Region Finland and Rest of Europe where EBITA margin was 25% (vs SEBe 19%) and sales were 42% above our estimate and organic growth was 29% partly driven by some significant project deliveries in the region. We reiterate our mid-point equity value of SEK 84 per share.
LÄS MER