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Lime Q4: Solid numbers, a bit above our expectations - SEB

Lime's Q4 came in slightly above our expectations, with Sweden generating somewhat higher growth than we expected. Margins are stabilising at 25%, in line with its >25% target. Growth of 19% is all organic (which includes c. 2% FX we estimate), which implies the market is still holding up well despite elevated uncertainty. We expect small positive revisions on the back of the report.

Lime's Q4 came in slightly above our expectations, with Sweden generating somewhat higher growth than we expected. Margins are stabilising at 25%, in line with its >25% target. Growth of 19% is all organic (which includes c. 2% FX we estimate), which implies the market is still holding up well despite elevated uncertainty. We expect small positive revisions on the back of the report.
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