Nexam Chemical - Q4 in line with pre-announcement
Q4 sales of SEK 43m (-11% y-o-y), in line with pre-announcementEBIT SEK -4m (vs. SEK -2.5m LY)Recycling continues to grow (FY'25 sales up ~3x vs. '24)...
Q4 sales of SEK 43m (-11% y-o-y), in line with pre-announcementEBIT SEK -4m (vs. SEK -2.5m LY)Recycling continues to grow (FY'25 sales up ~3x vs. '24)...
Q4e: US stable with Germany improving sequentiallyU.S. EBIT raised 8% for '26e-'27e following US bolt-onTrading at 11-7x '26e-'27e EV/EBIT (peers at 1...
Mild winter in Q4, but sequentially easing comps: organic growth -1%Cost savings took effect in Q3, expect y-o-y margin up 0.6pp to 8.9%Winter cold hi...
AI should drive data storage demand, but RAM prices are an issueSmall reductions to estimates, adj. EBITA -1-2% 2025-27eShare trading at 8.9x EV/EBITA...
Q4e sales SEK 22m (21m), EBIT adj. SEK -5.5m (-6.9m)We expect NW&FT to start showing early signs of recoveryTrading at '26e-'27e EV/Sales 2.2x-2.0...
We cut 2025e sales by SEK 21m, reflecting no machine deliveriesRights issue of ~SEK 26.6m and working capital needs reducedMarket uncertainty persists...
Rottneros Q4 EBITDA of SEK -180m vs. our SEK -80mChallenging markets for Rottneros and Arctic PaperFar-sighted is better than myopicRottneros PW: "Sig...