Guides for '23e sales below ABGSCe of SEK 91m...
Urb-it guides for '23e sales of SEK 65m, which is approx. 29% below our estimate, representing a y-o-y growth rate of approx. 33%. The company cites (i) a firming of macroeconomic conditions and (ii) a consequently tougher environment for retailers as the chief reasons behind the reduction of the financial targets. In addition, the company points out that it deems the retailers' lowered investment appetite to constitute a "temporary slowdown" that ultimately impacts Urb-it's business.
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