Careium: Growth in gear, margin follows - SEB
Bildkälla: Stockfoto

Careium: Growth in gear, margin follows - SEB

Careium posted another quarter of impressive organic growth of 20.6% with a 10.4% EBIT margin. We see slower growth ahead as a large customer onboarding is completed and installation projects for the A2D in the UK fade. Maintaining the cost base with expected organic growth of c. 8%, EBIT margin will scale to 9-10% in 2027E-28E, we believe. We adjust our fair value range to SEK 22-33 (22-32).

Careium posted another quarter of impressive organic growth of 20.6% with a 10.4% EBIT margin. We see slower growth ahead as a large customer onboarding is completed and installation projects for the A2D in the UK fade. Maintaining the cost base with expected organic growth of c. 8%, EBIT margin will scale to 9-10% in 2027E-28E, we believe. We adjust our fair value range to SEK 22-33 (22-32).
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