The company’s Q4 report matched our expectations at a Group level, showcasing further profitability improvements as well as continued deleveraging.

We expect the company’s reported revenue growth to be in the red but adjusted EBITA to improve from the comparison period.

The report was in line with our expectations. We expect the profitability turnaround to continue in the coming years, but this is priced in at the current stock price and the expected risk-adjusted return is weak for the next 12 months. Analyst Aapeli Pursimo summarizes.

The company’s Q3 report was well in line with our expectations and reflects the continued gradual improvement of the company.