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SENASTE
Green Landscaping's Q1 fell short of expectations. Sales fell 18% organically,driven by all segments and came in 15% below our estimate. Adj. EBITA is down 77% y/y and misses our estimate by 54%. Sales weakness is driven broadly across all divisions, while EBITA weakness seems to mainly be driven by the Norwegian business. Overall weak numbers in Q1, but a seasonally small quarter. We expect mid-to-high single-digit negative revisions on the back of the report.
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