Bactiguard: Q3 looks steady; focus on potential new deals - SEB
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Bactiguard: Q3 looks steady; focus on potential new deals - SEB

2027E-28E sales rise c. 2%, mainly on USDSEK movements. We believe Q3 will show a steady performance, with growth on a more normalised comparison base (10% organic sales growth y/y). With stability achieved, we believe Bactiguard’s focus should be on securing new license deals and growing existing ones. If successful, we think operating leverage will be high.

2027E-28E sales rise c. 2%, mainly on USDSEK movements. We believe Q3 will show a steady performance, with growth on a more normalised comparison base (10% organic sales growth y/y). With stability achieved, we believe Bactiguard’s focus should be on securing new license deals and growing existing ones. If successful, we think operating leverage will be high.
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