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Redeye was hoping for a bit more in terms of Q4 earnings, and so did probably Railcare too. The deviation is mainly related to Transport Scandinavia where rising costs have not been passed on to customers yet. Railcare’s overall market outlook remains firm and new financial targets were just announced. By 2027 the company aims to reach sales of SEK800m, corresponding to ~10% annual growth. The new target is slightly above our forecasts.
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