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Siili's H2 report shows that Q4 sales and EBITA came in slightly below our estimates. The organic growth was some 10% in Q4, which marks a slowdown after the solid performance in Q1-Q3. The guidance mid-point suggests 18% EBITA growth in 2023. We stand in line with sales guidance for 2023, but have input 7% higher EBITA. DPS came in at EUR 0.20 while we had input EUR 0.30.
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