Bildkälla: Stockfoto

Green Landscaping: Slow and steady - SEB

We have made mixed revisions in this preview, lowering region Norway sales and margins both short and long term, and raising region Finland and the rest of Europe. We believe Q3 will be a stable quarter and expect leverage to come down due to no new acquisitions. We expect sales of SEK 1.4bn and adj. EBITA of SEK 109m in Q3, with 2% organic growth and a 7.6% margin. We lower our DCF based mid-point to SEK 84 (93).

We have made mixed revisions in this preview, lowering region Norway sales and margins both short and long term, and raising region Finland and the rest of Europe. We believe Q3 will be a stable quarter and expect leverage to come down due to no new acquisitions. We expect sales of SEK 1.4bn and adj. EBITA of SEK 109m in Q3, with 2% organic growth and a 7.6% margin. We lower our DCF based mid-point to SEK 84 (93).
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