MT Højgaard Holding: Finally decides to divest Scandi Byg - ABG

MTHH has decided to initiate a sales process for Scandi BygMarket has increasingly been questioning its fit within MTHHToday's announcement should therefore be well receivedInteresting profile but volatile performance has been a dragMT Højgaard Holding (MTHH) has today announced that the company's board of directors has decided to initiate a sales process for Scandi Byg. Scandi Byg was acquired by MTHH's predecessor company Højgaard & Schultz back in 1984 and has a long-standing legacy within MTTH. While having an interesting strategic profile as a front-runner within sustainable, modular wood-based buildings, Scandi Byg's financial development during the past 7-8 has been volatile (see chart) below and despite comprising only ~5% of group sales, the volatile performance has during the past many quarters been a drag on the otherwise healthy performance of the group. This has also prompted the market (investors, analysts, etc.) to question whether Scandi Byg continues to be a right fit for MTHH. As such today's announcement should be interpreted positively by the market.Scandi Byg reported sales and EBIT marginSource: Scandi BygClassified as discontinued ops. Financial guidance raisedMTTH informs in todays release that Scandi Byg will be classified as discontinued operations and therefore no longer be included in MTHH's FY22 financial guidance. This has a positive impact on EBIT (before special items) outlook which is raised to DKK 260m from previously DKK 215-240m and furthermore MTHH maintains its FY22 sales guidance of DKK ~8.5bn despite now excluding Scandi Byg expected revenues of approximately DKK 335m.Läs mer på ABG Sundal Collier