Bergs Timber: Weaker demand to stick around in '23 - ABG

Wood Protection weak
Dividend proposal of SEK 2.0 & share buyback program proposal
Share is trading at ~6x P/E on 2024e


Q4 expectations vs. results

Bergs had sales of SEK 640m (ABGSCe SEK 686m) and EBITDA of SEK 30m (ABGSCe SEK 54m). The main deviation was Wood Protection, which had much lower sales than what we had expected, at SEK 101m compared to our expectation of SEK 215m. In total, Bergs reported a net profit of SEK -7m and offered a dividend proposal of SEK 2.0 per share.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/bergs-timber/Equity-research/2023/2/bergs-timber---weaker-demand-to-stick-around-in-23/