Nelly Group reported solid Q4 results with sales of SEK 318m, up 5.5% y/y (in line with our estimates), and EBIT 10% ahead of our estimate as the EBIT margin expanded 1pp y/y to 11.2%. Nelly continued to improve key KPIs y/y, highlighting its PL assortment now accounting for 47% of sales in Q4 (up 11pp y/y). Our current mid-point value of SEK 43 is under review. Shares have been strong into the numbers but should continue on their positive trajectory today.
LÄS MER