Sdiptech Q2’19: EBITA* 20% above forecast, solid in all segments
Research Note
2019-07-23
09:17
EBITA* came in ~20% above our forecast on the group level, and all three segments had higher EBITA* than expected. Water & Energy and Special Infrastructure Solutions grew by an impressive 13% and 23% in comparable units YoY. While the revenue in Property Technical Services, as expected, fell by ~10% YoY, the margin level was strong, indicating that the focus on profitable niches within elevators is working well. We will likely increase our forecasts and Fair Value.
FN
Fredrik Nilsson
Disclosures and disclaimers