Railcare Group: Record quarterly sales and earnings

The target remains unchanged
Growth is now picking up speed again, even on a rolling 12-month basis, and the operating margin is improving. This is entirely in line with our previous forecasts; after Q2, we wrote that "our initial assessment is that both 12-month growth and margins will bottom out here and turn upward already in Q3". This means that we do not expect more than marginal adjustments to our forecasts in our full analysis, which we will return with shortly as usual. In the longer term, those estimates are for sales in 2027 that do not quite reach SEK 1 billion and an operating margin that ends up close to the target of 13%. They are based on growth in Contracting in line with the market's 10-15%, a couple of large transport contracts à la Kaunis/LKAB and continued growth in Technology that can spread from the loco-motive workshop in Långsele to the machine hall in Skelleftehamn.