MT Højgaard Holding: Impressions from downgrade call - ABG
Recent reviews of Greenland, SETH triggered the downgrade Conservative view embedded in downgrade Future risks (2024e), if any, hinge on Greenland
ANNONS
At the conference call, management specified three reasons driving the downgrade of the FY'23 outlook: (1) The operations in Greenland and in particular the three underperforming contracts that had a negative impact on the Q1'23 results; (2) lower sales as well as unprofitable contracts in the 60% owned Portuguese company SETH, and (3) costs associated with the downsizing of the International division, in particular the operations in Greenland.
