Seafire: One last quarter with “tough” comps - SEB
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Seafire: One last quarter with “tough” comps - SEB

Demand moving sideways combined with softer seasonality leads us to expect a sequential earnings decline; we estimate Q3/24 adj. EBITA of SEK 11m. We expect its leverage to increase q/q in Q3 but for this to stabilise and gradually decrease thereafter. We expect 2024 to show trough earnings, from where strengthened end-markets and operational improvements should support improved volumes and earnings in 2025.

Demand moving sideways combined with softer seasonality leads us to expect a sequential earnings decline; we estimate Q3/24 adj. EBITA of SEK 11m. We expect its leverage to increase q/q in Q3 but for this to stabilise and gradually decrease thereafter. We expect 2024 to show trough earnings, from where strengthened end-markets and operational improvements should support improved volumes and earnings in 2025.
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