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Alcadon: Strong organic growth and M&A contributions - SEB

Ahead of Alcadon group’s Q2 results (due on 9 August) we upgrade our sales forecasts reflecting our expectations for improving markets. On slightly lower gross margins, our earnings forecasts are broadly unchanged. This implies particularly strong organic growth in Q2 (+17% y/y), whilst the consolidation of the recently-acquired Woods adds to sales and EBITA. We maintain our mid-point of SEK 80 per share in Alcadon Group.

Ahead of Alcadon group’s Q2 results (due on 9 August) we upgrade our sales forecasts reflecting our expectations for improving markets. On slightly lower gross margins, our earnings forecasts are broadly unchanged. This implies particularly strong organic growth in Q2 (+17% y/y), whilst the consolidation of the recently-acquired Woods adds to sales and EBITA. We maintain our mid-point of SEK 80 per share in Alcadon Group.
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