A fairly expected interim report, I’d say.
However, I personally see that risks are elevated for this year, and a significant improvement is needed to reach the EPS expectation (~7.9 SEK).
The CEO painted a picture of potentially even rapid market growth and was generally optimistic about growth for 2026. CBAM and EU import protection are believed to push prices up (perhaps even behind the stock price rises of recent months?). As for what the scale will be, no very clear picture was given. AI estimates 4 billion SEK in annual EBITDA in the best-case scenario, but I suppose everyone can get the number they want by prompting.
Be that as it may, presumably EBIT quarters of around 3 billion SEK would need to be delivered in Q1 and Q2, as there are major maintenance breaks in Q3 and Q4, if forecasts are to be met.
In the longer term, if one trusts the company’s guidance of 23 billion SEK EBITDA after 2030, the EPS would likely be around 15 SEK. From there, one can then calculate the potential share price using their preferred multiples.