Duell Q1: EBITA below consensus but close to our expectations in a challenging quarter - SEB

Duell's fiscal year 2026 got off to a challenging start, as sales declined 12% y/y. The winter weather started late in the Nordics, while challenges in France continued despite underlying better development in RoE. Adjusted EBITA was slightly ahead of our expectation, while it was below consensus. Leverage and NWC increased seasonally as expected, but the covenants were met. Guidance remains unchanged.

Länk till analysen i sin helhet: https://research.sebgroup.com/corporate/reports/138866