Balco reported net sales of SEK 346m (4% vs SEBE at 333m) with adj. EBIT SEK 29m, corresponding to a margin of 8.4%. The Q2 report was strong, but the company guides for a weaker Q3. The order intake and backlog were both down y/y and the company says it will probably affect upcoming quarters. Although we see this as a strong report, we believe softer guidance might weigh on investor sentiment ahead. We reiterate our mid-point of SEK 75 per share.

https://research.sebgroup.com/corporate/reports/121591

SEB Research

This research has been commissioned by the company. Only for professional investors resident in EEA member states. Reports may not be distributed to the US or other jurisdictions where to do so would be unlawful. Please see the disclaimer tab for any details of investment banking services recently provided by SEB that could be considered relevant to the subject matter of this research.