MT Højgaard Holding: Strong order intake, market in focus - ABG
We expect order intake of DKK 3.2bn excluding JVs Sales of DKK 2,356m and EBIT (adj.) of DKK 59m Conference call at 10:00am (CET)
ANNONS
Estimate changes to reflect more realistic margin outlook
We lower our 2023e and 2024e earnings forecasts by 17-41% ahead of MTHH’s Q3 report. The changes are mainly due to extensive revisions of our margin forecasts following a change of analyst earlier this year. In particular, we view the previous margin assumption of above 4% as too optimistic and now estimate 2023e-24e margins of 3.2-3.3%. Our fair value range is DKK 115 - 230 per share.