Addnode Group: Impressive organic growth, again
We leave our 2020 forecast regarding both sales and EBITA unchanged. However, we lower our estimate for Q4 2019, mainly as we expect customers in PLM to choose SaaS over licenses to a larger extent, due to uncertainty over the economic outlook. Although, in the long run, we prefer SaaS over licenses. We raise our Base case insignificantly to SEK 151 (147).