Ahead of CDON’s Q1 results, we factor in weaker GMV, reflecting sequentially more muted consumer sentiment during the quarter. However, this should be offset by a positive calendar y/y from Easter. Additionally, cost savings and a decent take-rate (in line with Q4/24) should support EBITDA despite a lower GMV. We make minor estimate revisions and reiterate our share mid-point value at SEK 88 in a range of SEK 75-101 ahead of Q1.
LÄS MER