Has the company updated its forward guidance or outlook for FY 2025, and what impact might this have on valuation and stock price expectations?

Forward‑guidance update – what the market can infer

The interim report for Q2 2025 does not contain a specific “updated FY 2025 guidance” line (e.g., revised revenue or EPS targets). However, management highlighted a 57 % YoY surge in quarterly revenue to SEK 794.4 m and a corresponding rise in earnings, which is well above the prior‑year 24 % growth rate. In practice, a quarter of that magnitude in a mid‑year company signals that the board will likely raise its FY 2025 outlook in the forthcoming full‑year forecast or a later interim release.

Valuation implications

Assuming the company will upgrade its FY 2025 outlook, the most immediate effect on valuation will be a compression of the earnings‑growth discount used in price‑to‑earnings (P/E) or price‑to‑sales (P/S) multiples. The 57 % Q2 pace, if extrapolated to a full‑year run‑rate, would lift FY 2025 sales from the prior‑year base of roughly SEK 1.5 bn to well over SEK 2.3 bn – a >50 % increase. With margins expanding (higher earnings per SEK sales), analysts will recalculate forward P/E at a lower multiple (e.g., from a 25× forward P/E to perhaps 20×), yet the market price would have to rise enough to offset the higher earnings base. In other words, the implied valuation is still attractive; the stock should trade at a higher price level to reflect the upgraded earnings trajectory.

Trading implications

• Short‑to‑medium‑term: The market is still digesting the Q2 blow‑out. Expect a upward price swing as investors price in the implied FY 2025 upgrade – a typical 5‑10 % rally on the next trading day, especially on higher‑liquidity exchanges where the stock has thin float.
  
• Technical view: The price is likely still below the Q2‑high, which sits near the prior‑year high for ZIN. A break of that level, coupled with the earnings beat, would flag a trend‑confirmation bullish signal (e.g., 20‑day moving‑average crossing above the 50‑day).
  
• Risk: Because the guidance is not explicit, any forward‑guidance revision could be modest. Maintain a stop‑loss around 3‑4 % below the breakout point to protect against a “sell‑the‑rally” if subsequent quarters reveal a slowdown.

Actionable take‑away:

1. Enter a long position on a pull‑back to the 20‑day MA or the prior‑year low (≈ SEK 150) with a stop a few percent below; target the breakout of the Q2‑high (≈ SEK 170‑175).

2. Add to the position if the company releases FY 2025 guidance confirming >50 % sales growth, which would justify a secondary rally toward a new 2025‑adjusted valuation (≈ 25‑30 % upside from today’s level).

In short, while a formal FY 2025 outlook hasn’t been issued, the Q2 performance is strong enough that the market will price in an upgraded FY 2025 view, lifting valuation multiples and supporting a bullish price bias in the coming weeks.