Organic growth of -6% 4pp below ABGSCe. We estimate bike-related grew +5%, remaining products -8%. Estimates down on neg. FX; reiterate SELL and TP of SEK 250.
12 Feb 2024
A soft Q4 but optimistic outlook
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A soft Q4 but optimistic outlook
- Published:
12 Feb 2024 -
Author:
Benjamin Wahlstedt | Fredrik Ivarsson | ABGSC Consumer Goods Research -
Pages:
10 -
Organic growth of -6% 4pp below ABGSCe. We estimate bike-related grew +5%, remaining products -8%. Estimates down on neg. FX; reiterate SELL and TP of SEK 250.