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SRV Group: Market conditions starting to show - Evli

SRV's net sales in Q4 amounted to EUR 181.2m, below our estimates and below consensus (EUR 211.9m/214.0m Evli/cons.). Profitability was a disappointment, with EBIT at EUR -6.3m (EUR 3.6/4.1m Evli/cons.). Group revenue in 2023 is expected to be lower than in 2022 and operative operating profit positive but lower than in 2022.

SRV's net sales in Q4 amounted to EUR 181.2m, below our estimates and below consensus (EUR 211.9m/214.0m Evli/cons.). Profitability was a disappointment, with EBIT at EUR -6.3m (EUR 3.6/4.1m Evli/cons.). Group revenue in 2023 is expected to be lower than in 2022 and operative operating profit positive but lower than in 2022.
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