Hoist reports Q2 on 25 July. Estimate changes include post Q1 changes and lead to Cash EBITDA -1% in 2025e but +1-2% in 2026e-2027e, mainly as a result of the low investment pace in Q1. We expect continued solid collection performance in Q2, though the reduced portfolio investments in Q1 and some one-off items lead to Q2 PBT of SEK 232m, down y-o-y. We are significantly below cons on Q2 numbers. Nonetheless, in our view, Hoist remains attractive due to strong underlying fundamentals, the portfol ....
