Prevas

* Organic decline of 2%, weighed down by Finland * Adj. EBITA margin of 5.6%, below the 6.9% expected * Trading at 6x adj. EV/EBITA on '27e Changes in Finland will likely take time The report came in softer than expected, with an organic decline of 2...

* Sales of SEK 405m, organic decline of ~2% * Adj. EBITA of SEK 23m, and a margin of 5.7% * Restructuring costs weigh on the quarter Adj. EBITA softer than expected Prevas reports Q2'26 net sales of SEK 405m (in line with ABGSCe SEK 407m), down slightly...

* Signs of stabilisation but pricing remains pressured * We leave our estimates broadly unchanged * Trading ~25% below Nordic peers A stabilising market, but pricing remains the challenge The technical consulting market has been weaker for longer than...

* Prioritising profitability, targeting 12% EBITA margin * Building on the 15+ years of defence expertise * Disciplined M&A approach, waiting for the right fit A Nordic technical consulting firm Last week, we hosted Prevas CEO Magnus Welén at ABGSC's...

Vägen mot en återhämtning för konsultbolaget vilar på omstruktureringar som börjar synas i siffrorna och underliggande strukturell tillväxt i nyckelsegment.