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Projektengagemang Q1: Solid start to the year - SEB

Projektengagemang reported a solid Q1 report. Although sales lagged our estimates by 3%, EBITA came in at SEK 18.2m (vs. us at SEK 16.9m), some 7% ahead of us, with EBITA margin of 6.5% (SEB: 5.8%). All divisions posted healthy profitability with A&M posting a significant improvement compared with previous quarters. Company comments to see early signs of improvements in the market, supporting our 2021 forecasts.

Covid-19 pandemic has increased the uncertainty in the market, however company sees now early signs of improved market conditions and expect to see clear improvements in H2 of 2021, supporting our current forecasts.
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