We leave our Base Case unchanged at SEK44 ahead of the Q3 report on 22 October, as the quarter should extend the recent trend: broad-based organic growth of around 11% y/y, led by Data Center and a further slight step-up in Fiber Solutions' margin. The only underlying change in this preview is a slightly lower Harsh Environment EBITA margin estimate; forecasts elsewhere are essentially unchanged. FX should be only a minor headwind this quarter, at around 0.1% on group sales, contrasting the swings seen earlier in the year.
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