Green Landscaping Group (Buy, TP: SEK100.00) - Q3e likely solid, but CMD in focus
We expect Green Landscaping to report a solid Q3, driven by organic revenue growth in Norway and Rest of Europe and easing comparables. We see Q3 as the trough for the Swedish business unit as it exits a loss-making contract. Despite a likely strong Q3e, we expect the results to be outshone by the recently announced CMD. We reiterate our BUY and SEK100 target price.Green Landscaping Group AB Formerly known as Green Landscaping Holding AB (publ). Green Landscaping Holding AB (publ) is a Sweden-based provider of outdoor environment services. The Company's operations are divided into three business segments: Greenery and fine planning, Sports and leisure facilities, as well as Wood and forestry. Also, the Company operates Green Academy for employees' skills development. The Company operates through a number of subsidiaries, active throughout the central and southern Sweden.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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