Carnegie om Höganäs: Overall impression: A solid report with sales just in line with our estimates and 3% above consensus. EBIT came in at SEK275m, 3% ahead of our estimates and 12% ahead of consensus. Although there are no signs of lower orders as of October, Höganäs see more uncertainty at the clients and is downsizing the production somewhat. This is however well reflected in our estimates already.
Estimates: slight positive revisions. Consensus upgrades should be higher: we were 7% ahead of consensus on 2012 and 5% ahead on 2013.
Share price reaction: positive share price reaction (+3%) is justified given the solid report
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Carnegie om Höganäs:
Overall impression: A solid report with sales just in line with our estimates and 3% above consensus. EBIT came in at SEK275m, 3% ahead of our estimates and 12% ahead of consensus. Although there are no signs of lower orders as of October, Höganäs see more uncertainty at the clients and is downsizing the production somewhat. This is however well reflected in our estimates already.
Estimates: slight positive revisions. Consensus upgrades should be higher: we were 7% ahead of consensus on 2012 and 5% ahead on 2013.
Share price reaction: positive share price reaction (+3%) is justified given the solid report
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