Portfolio rebalancing and weak market behind PW We lower '25e-'27e EBIT by 31-22% on lower sales We expect some market recovery in '26e Still no signs of meaningful market improvement Ework's full Q1 figures were in line with the preliminary numbers,...

Preliminary Q1 figures: sales -17% y-o-y, -13% vs. ABGSCe Weak market and client phase-outs, but surprising softness Full report due 14 May; FY'25 EBIT likely down >15% Sales -17% y-o-y amid challenging market and client exits This evening Ework released...

Weak market coupled with portfolio rebalancing headwinds We lower '25e-'26e EBIT by 4-3% Poised for improved margins, 11x '25e EV/EBIT Market remains subdued The subdued market for Nordic consultants continued in Q4, putting pressure on utilisation and...

Sales -4% vs. ABGSCe (-11% y-o-y), EBIT -24% vs. ABGSCe Weaker orders but improving margins, partly from portfolio rebalancing We expect cons to lower '25e-'26e adj. EBIT by ~3% Q4 results Q4 sales were SEK 4,161m (-4% vs. ABGSCe 4,319m), -11% y-o-y....