SyntheticMR delivered sales growth of 46% in Q4, 4% above our expectations. EBIT margin increased to 29% leading to EBIT of SEK 8.8m, above our expectations (SEB at SEK 7.6m), making Q4 a new high on both sales and EBIT. The company guides for 2024 sales of SEK 110m (23% growth) and EBIT margin of >20% (+420bps). We expect the new guidance to trigger low-single-digit percentage positive revisions on 2024 sales.

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