Aktieanalys

Arise: Lower EBIT on less contribution from Kölvallen - ABG

ABG Sundal Collier Publicerad: 02 May 2023 09:35

Q1'23 due on Thursday, 4 May
We lower '23e-'25e EBIT by 10-16%
The share is trading at 14x P/E on 2023e

Q1'23 expectations

We expect Q1 sales of SEK 98m (SEK 88m), up 11% y-o-y. We expect most revenues to come from its own production and revenue recognition from Kölvallen. We expect Development to contribute to sales with SEK 31m, which should result in EBITDA of SEK 19m. Moreover, we expect Own Production to deliver 87 GWh (below budgeted 96,2 GWh) with an average realised price of SEK 756/MWh (SEK 748/MWh), which should result in a EBITDA of SEK 46m. For the total group, we expect EBITDA of SEK 60m (SEK 61m) with a margin at 61.8%. Finally, we foresee a net profit at SEK 34m (SEK 37m).

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/arise/Equity-research/2023/5/arise---lower-ebit-on-less-contribution-from-kolvallen/

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