Trading update reduces uncertainty around Q4 report
In conjunction with the release of the share issue prospectus, Svedbergs communicated its Thebalux-adjusted October-November performance on 14 December. It stated that it grew sales by 2% with flat EBITA growth. As December is the smallest month of the year for the group, we therefore have rather good visibility into the full quarter's performance. We expect one month of Thebalux' consolidation to add ~SEK 24m to Q4 sales, with a SEK 5m addition to EBITA. Consequently, we forecast SEK 464m in net sales (+6% y-o-y, of which 5pp from M&A), with SEK 59m EBITA for a 12.7% EBITA margin (+30bp y-o-y).
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