SyntheticMR Q4 showed sales growth of -58% y/y, coming in 19% below expectations. EBIT was SEK -7m compared to SEB expecting SEK -1m. The company says that it has taken longer than anticipated for sales in the US to recover. The recently acquired Combinostics reached SEK 9m in sales for 2024, showing growth of 51%. We expect 2025 sales to come down by mid-single digits.

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