(News Bulletin 247) – UBS reiterates its neutral advice on value and its target of 119 crowns after the announcement of its first quarter profit.

‘Q1 2023 EBIT is significantly higher than consensus. thanks to a better gross margin. March sales increased by 4% compared to the previous year’ indicates the analysis office.

Over the three months ended February 28, operating profit amounted to 725 million crowns, or a margin of 1.3%, against 458 million – or 0.9% of turnover – a year earlier . For comparison, analysts expected a net loss of 1.1 billion crowns.

The group has also confirmed that it expects to generate an operating margin of 10% next year.

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