Duell: Starting slowly, aiming to improve - SEB

Duell’s sales clearly declined in Q1 (September-November), as winter weather was weak in the Nordics, while the rest of Europe suffered from ongoing challenges in France. Fixed costs were somewhat below our expectations. Duell is taking action to improve performance and the weather looks better for Q2. Following a weak Q1 and with high leverage, Duell needs to improve to meet guidance and reach decent leverage.

Länk till analysen i sin helhet: https://research.sebgroup.com/corporate/reports/138897