Elanders

We raise adjusted EBITA by 4-6% for 2026E-28E, following the strong margin development in Q1, with adjusted EBITA increasing 29% y/y, taking the margin to 6.2% in the quarter, with the structural measures in Supply Chain Solutions continuing to have ...

We cut 2026E adjusted EBITA by 9% and 2027E-28E by 4-6% ahead of the Q1 report, due to FX and an ongoing muted market. Overcapacity is likely to remain a margin drag, especially in the North American Fashion business, and we foresee continued weakness...

We raise adjusted EBITA by 2% for 2026E-27E, following the stronger-than-expected profitability in Q4, with adjusted EBITA increasing 8% y/y despite a 19% y/y sales decline. Although Q4 marked an inflection point in earnings, we look for this to take...