Taking action amid tough conditions

We cut '24e and '25e EBITDA by 17% and 8%. Refocusing of Aurdel to improve margin stability. '25e EV/EBIT of ~11x.

Q1'24: in line on EBIT

New year, new group structure

We cut '24e-'26e sales by 7-10%. Sominis divestment weighs on est. revisions. '24e-'25e EV/EBIT 40x-10x.

Enters agreement to divest Sominis

Leaving behind a tough 2023

'24e-'25e adj. EBIT down 5-3%. Successfully reducing excess working capital. '24e-'25e EV/EBIT of 37x-12x.

Q4'23: in line on adj. EBIT

Conditions still tough for Aurdel and EFUEL

We cut '24e-'25e adj. EBIT by 17-13%. Aurdel and EFUEL likely to delay recovery. '24e-'25e EV/EBIT 37x-12x.

Turning the page

We cut '24e-'25e adj. EBIT by 63-36%. EBIT recovery delayed into 2024. '24e-'25e EV/EBIT 30x-10x.

Uneasy comeback for Easee

We cut '23e-'25e adj. EBIT by 55-15%. Recovery likely to continue into 2024e. '24e EV/EBIT ~10x.

H2'23e: Leaving the trough behind

Q2: beat driven by solid cost control

Macro remains tough while comps get easier

We cut '23e-'25e EBIT by 22-1%. Consumer confidence remains relatively low. '23e-'24e EV/EBIT ~34x-10x.

Recovery in the hands of EFUEL

'23e-'25e adj. EBIT cut by 32-3%. Q1'23 inventory write-down of SEK 20m. '24e EV/EBIT 10x.

Q1: Write-downs hit gross margins

Pressing the reset button on EFUEL

Easee ban weighs on EFUEL. We cut '23e-'25e EBIT by 49-34%.

Sales ban on Easee products