Nolato gets the VHP permit, reiterates Q4 guidance
Nolato has announced that it has now been granted the permit to produce vaporiser heating products (VHP) in China, and reiterates its Q4 Integrated Solutions sales guidance of SEK 0.5bn (-33% q-o-q, -66% y-o-y), which was contingent on getting the permit. As a reminder, Nolato had not produced any VHP products since October due to new, more stringent regulations regarding production of tobacco products in China. We had assumed Nolato would get the permit in Q4, as the company had communicated, meaning our current Integrated estimates are already in line with the Q4 guidance. While we do not have consensus figures for individual segments, the fact that management spoke fairly confidently about obtaining the permit in Q4 leads us to believe that consensus estimates are also in line with the guidance.
LÄS MER