* Sales up 3% y-o-y, held back by soft volumes and tough comps * We keep sales flat, and slightly raise opex * Trading at 9-8x on '26e-'27e ...
* Sales -1% and adj. EBITA -5% vs ABGSCe * Gross profit of SEK 21.
* Q4 growth partly offset by SMS volumes * Raising EBITA by 7-6% for '26e-'27e * 11-9x EV/EBITA on '26e-'27e, ~20% below historical median ...
* Continued margin expansion driven by DOCS * EBIT estimates raised by 2-3% for '26e-'27e on scaling potential * Trading at 13x EV/EBIT, ~20...
* Sales +3% and adj. EBITA +14% vs ABGSCe * DOCS adoption 24% of municipalities * Consensus adj.
* Seasonally weaker volumes to weigh on earnings * 10-12% '26e-'27e sales growth, 21-22% EBIT margin * Trading at 12x EV/EBITA in '26e, ~15%...
* Gross margin at 45% (40%) * SaaS supports margins and outlook * Trading at ~11-9x EV/EBITA for '26e-'27e Strong margin improvement Generic...
* Sales -4% and adj. EBIT -11% vs ABGSCe * DOCS adoption 23% of municipalities * Consensus adj.
6% organic sales growth y-o-y SaaS momentum drives gross margin uplift.
24% organic sales growth y-o-y Improved gross margin due to pricing and mix Opex flat y-o-y leads to 48% EBIT growth Q4: Sales growth of 24...
24% organic sales growth y-o-y Improved gross margin due to price adjustments Opex growth to abate in the coming quarters Q3: Sales growth ...
26% organic sales growth y-o-y Growth initiatives hurt profitability mid-term Pricing to act as a tailwind for gross margin in Q3 Q2: Sales...
22% organic sales growth y-o-y Lower than expected gross margin Price increases should help gross margin in Q2 Q1: Sales growth of 22%, EBI...
12% organic sales growth y-o-y Opex increase and IAC affect Q4 Profitability assumptions down on slightly higher opex Q4: Sales growth of 1...
15% organic sales growth y-o-y Inera volumes slightly delayed Minimal changes to long-term estimates Q3: Sales growth of 15%, EBIT margin o...
We expect a solid Q3 with 12% organic sales growth 15% EBIT growth y-o-y in Q3e Inera framework agreement behind our revisions Q3e: gradual...
Solid sales growth at 10.4% y-o-y, all organic EBIT growth of 28% with excellent cost control Demand is holding up well into H2 Q2: Sales g...
Sales growth below 10% again, but comps were tough Delivers 18% EBIT growth y-o-y DOCS sales have stabilised the gross margin Q1: Sales gro...
Finding a new level of growth post COVID-19 Impressive profitability in Q4 Low churn confirmed, as expected Q4: Sales growth of 12% and an ...
EBIT margin strengthened y-o-y in contrast to H1 Positive revisions, ‘23e EBIT up ~4% Generic has not seen any weakness in demand Q3: Sales ...
Slower sales growth than we have become used to We lower long-term EBIT by 5% Lifted COVID-19 restrictions boost new sales Q2: Net sales ...
Sales growth of 19% y-o-y, EBIT +10% y-o-y Revisions stem from Q1 deviation ‘23e EV/EBIT of 26x, 2.
Two consecutive quarters with 47% y-o-y sales growth We raise both sales and margin assumptions ‘22e EV/EBIT of 38.
