Report
Mads Brinkmann Andersen
EUR 95.05 For Business Accounts Only

Green Landscaping Group (Buy, TP: SEK102.00) - Q4e likely with multiple headwinds

We expect mild weather and less snowfall in Sweden and Norway to weigh on Q4 results, while Rest of Europe is probably continuing its strong momentum. We have cut our top line for Q4e by c3%, and updated our estimates for the latest acquisitions. We still like the M&A opportunity in the DACH region and reiterate our BUY and SEK102 target price.
Underlying
GREEN LANDSCAPING GROUP AB (PUBL)

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.

Provider
DnB Markets
DnB Markets

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.

 

Analysts
Mads Brinkmann Andersen

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