Alcadon: With the focus set, what about M&A? - SEB
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Alcadon: With the focus set, what about M&A? - SEB

We expect Alcadon to maintain its focus on cash flow generation and improving profit over working capital, as market conditions overall appear likely to remain subdued. Despite relatively high leverage, we believe Alcadon will continue to pursue selective add-on acquisitions, guided by its profit-over-working-capital approach to capital allocation. We reiterate our mid-point equity valuation of SEK 45.

We expect Alcadon to maintain its focus on cash flow generation and improving profit over working capital, as market conditions overall appear likely to remain subdued. Despite relatively high leverage, we believe Alcadon will continue to pursue selective add-on acquisitions, guided by its profit-over-working-capital approach to capital allocation. We reiterate our mid-point equity valuation of SEK 45.
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