The soft performance seen in Q4 2023 continued in Q1 2024, with adj. EBITA of SEK 6m (vs SEB at SEK 5m), down 74% y/y. Management highlights that the tougher market looks set to continue but states that it saw some improvements at the end of Q1 2024. Additionally, reduced costs are expected to have some effect ahead and Q2 is generally a seasonally stronger quarter, with higher sales, earnings and cash flow.

SEB Research

This research has been commissioned by the company. Only for professional investors resident in EEA member states. Reports may not be distributed to the US or other jurisdictions where to do so would be unlawful. Please see the disclaimer tab for any details of investment banking services recently provided by SEB that could be considered relevant to the subject matter of this research.