MT Højgaard Holding: Entering 2024 with a robust order book - ABG
2024e-25e sales and EBIT cuts of 2-6%
Based on robust order book, we forecast 2024e sales of DKK 10.2bn
Order timing, macro uncertainty could result in guidance being lower
Revisions mainly driven by lower order intake in MTH DK
We lower our 2024e-25e sales and earnings forecasts by 2-6%, which mainly reflects lowered order intake forecasts for MTH Denmark. We forecast Q4'23 group revenues of DKK 2,810m (+10%), EBIT before special items of DKK 99m (-22%) and an order intake of DKK 2,156m (-49%). This amounts to FY'23 revenues of DKK 9,753m and EBIT before special items of DKK 390m, which is in line with and 3% below the company's FY'24 guidance, respectively.
Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/mt-hojgaard-holding/Equity-research/2024/2/mt-hojgaard-holding---entering-2024-with-a-robust-order-book/