We expect the positive adj. EBITDA reported in Q4 to continue in the coming quarters for BuildData. Growth remains strong and while the company is cautious on the market in general, it remains confident about delivering continued growth supported by strong trends. We expect mid-teen growth ahead with positive EBITDA in FY 23/24E, and reiterate our SEK 11 mid-point DCF value, based on a fair value range of SEK 10-12 per share.

https://research.sebgroup.com/corporate/reports/121753

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