Bildkälla: Stockfoto

Nilörngruppen: Q1 order intake to show the way - ABG

Order intake likely to improve
Sports & outdoor demand should normalise during '24
'24e-'26e EBIT up 2%


What to look for in Q1'24

Following the strong order intake in the last two quarters, we expect slightly positive organic growth of 3% in Q1'24. In terms of absolute numbers, we expect sales of SEK 226m (+3% organic, -1% FX) and EBIT of SEK 20m, corresponding to a margin of 8.9%. Our updated Q1 estimates therefore imply positive estimate revisions of +3% for Q1 sales and +4% for Q1 EBIT. We would not be surprised if Nilörngruppen delivers an order intake of approximately SEK 220m (-4% y-o-y growth).
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