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SENASTE
The Q4 report was stronger than expected, driven by a solid winter season and good growth in Norway and with a strong EBITA contribution from Region Middle and Region Stockholm. Sales reached SEK 1.6bn (+18% vs SEBe of 1.4bn) and EBITA came in at SEK 166m (+44% SEBE 115m). Organic growth was 14% y/y, which is very high for Green and it ended the year with an EBITA margin of 10.4% (8.9%). Our mid-point value of SEK 83 is under review.
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