2025-06-10-Jefferies-Elekta（EKTAB）_新首席执行官任命_7页_101kb

Elekta Appoints New CEO Amid Operational Challenges

Key Announcement:
Elekta announces the appointment of Jakob Just-Bomholt as permanent CEO, effective September 2025. He most recently led 3Shape, a global innovator in dental software. This comes at a time of significant stock underperformance, with shares down >25% over the past year and trading near all-time lows (SEK44.50-76.30).

CEO Background:
Mr. Just-Bomholt is a seasoned executive with extensive international experience, including roles at 3Shape, Falck A/S, and A/P Møller Maersk. He has a strong track record of driving profitable growth and global expansion through innovation and operational excellence, making him well-suited to address Elekta's current challenges. He will join the company from August, working alongside Acting CEO Jonas Bolander.

Company Performance:
Elekta (EKTAB SS) faced operational hurdles in FY24/25, including negative order intake (-7%) and R&D impairments, despite a solid Q4 performance. The company's FY25/26 guidance is vague, reflecting delays in US approval for the Evo system and headwinds from currency and tariffs. Shares are at ~17x P/E CY25e, and valuation near all-time lows, highlighting ongoing execution concerns.

Analyst Views and Ratings:
Jefferies Equity Research assigns a HOLD rating with a SEK53.00 price target (5% upside). The rating is based on DCF analysis, with risks including market share losses and Unity mass adoption. The report notes Elekta's status as a sector underperformer and highlights the new CEO's appointment as a potential positive catalyst.