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Ework Group är verksamt inom rekryterings- och konsultbranschen och fokuserar på att tillhandahålla IT- och managementkonsulter till företag och organisationer. Bolagets tjänster riktar sig till företag som behöver stöd i rekrytering och projektledning, inom både privat och offentlig sektor. Ework Group grundades år 2000 och har sitt huvudkontor i Stockholm.
* Signs of stabilisation in the market... * ...and we are positive on the 2027 story * Trading below its peers at 8x-7x EV/adj. EBIT for '27e-'28e Looking like a stabilisation but too early to call a recovery The Q3 report came in better than we expected...
* Sales were SEK 2,751m (+6% vs. ABGSCe), -8% y-o-y * Order intake decreased 9% y-o-y to SEK 2,706m * We expect cons to lift '27e-'28e adj. EBIT by roughly 7-5% Q3 results Q3 sales were SEK 2,751m (+6% vs. ABGSCe 2,596m), -8% y-o-y. Gross profit was ...
* Early signs of stabilisation, but numbers lag * We lower '26e-'28e adj. EBIT by 3-5% * 10x-9x '26e-'27e EV/adj. EBIT Numbers will likely lag We see early signs of stabilisation in demand, with Q2 order intake up 5.4% y-o-y and improving demand expectations...
* Order intake +5% y-o-y – an early sign of stabilisation? * We keep '26e adj. EBIT broadly unchanged, raise '27e-'28e by 1-2% * 9x '27e EV/EBIT adj., in line with peers Early signs of recovery It is still too early to say whether the market is bottoming...
* Sales +1% vs. ABGSCe (-13% y-o-y), adj. EBIT -2% vs. ABGSCe * Order intake +5.4% y-o-y, the first increase in several quarters * We expect cons to leave '26e-'28e adj. EBIT broadly unchanged Q2 results Q2 sales were SEK 3,131m (+1% vs. ABGSCe 3,103m...