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Beijer Electronics Group Q4’19: Mixed outcomes

2020-01-30

16:18

HH

Havan Hanna

Beijer Group's report for the fourth quarter shows slightly higher sales than expected but where profitability surprises on the negative side. Order intake was down y/y but at same levels as earlier quarters this year. Once again, sales growth was mainly driven by Westermo, up 19% (6% organically) y/y and EBIT growth of 64% y/y. Overall, a report with mixed outcomes. However, the long-term case is still intact, and we see no reason to make any bigger long-term estimate adjustments after the report.

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