Denna moderna företags framtid kommer klarna upp genom den färska analysen.
Q1 results were slightly below our expectations due to slow organic growth, but the company demonstrated that the Finnish business continues to be in line with the company’s guidance as profitability improves. The company reiterated its guidance for 2024, but as the growth outlook weakened, we lowered our forecasts to near the low end of the guidance range. The earnings growth outlook for the coming years is still very good, despite negative forecast revisions, but 2024 will be spent laying the groundwork for international growth. We think the valuation is reasonable in the overall context.