The long-term positive sales trend is still there. The operating costs are under control and did not deviate much. More positive is the continued strong cash flow in the quarter, adding up to a healthy cash position by the end of the quarter, which will be helpful to continue to drive growth into 2022E. The short-term adjustments do not affect our fair value range and base case more than marginally, and we reiterate our base case value of SEK 30 per share.

info@redeye.se (Redeye.se)

Redeye AB - Redeye.se