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Projektengagemang: Savings to offset cycle in 2024 - SEB

PE, the architectural consultancy, charged its Q3 P&L with nearly SEK 16m in NRIs relating to optimization of its real estate portfolio costs, now specifying target savings of SEK 10m in next year; and a total of SEK 40m until end-2025. While the cycle will continue to weigh on demand (organic growth) until H2 2024, we argue, we raise our adjusted EPS forecasts to reflect increased savings in 2024-25. Our mid-point value of SEK 14 stands.

PE, the architectural consultancy, charged its Q3 P&L with nearly SEK 16m in NRIs relating to optimization of its real estate portfolio costs, now specifying target savings of SEK 10m in next year; and a total of SEK 40m until end-2025. While the cycle will continue to weigh on demand (organic growth) until H2 2024, we argue, we raise our adjusted EPS forecasts to reflect increased savings in 2024-25. Our mid-point value of SEK 14 stands.
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