Redeye lowers its forecast following I-Tech’s soft Q4’25 figures.
* Q4: -23% organic growth (vs. ABGSCe -12%) * Financially constrained customer weighed on ’25 org.
Redeye considers I-Tech's Q4 report to be soft, although the company faced relatively high set expectations and tough comps.
Sales -13% vs. ABGSCe, EBIT SEK 7.6m vs. ABGSCe 9.4m * Three coating products launched in Korea in Q4 * Sizeable customer with financial con...
* Q4e sales SEK 45m (58m), adj. EBIT SEK 10m (19m) * We cut '26e-'27e sales and EBIT by 10% and 22-19%, respectively * Lowered growth assump...
* European Commission drafts proposal for non-renewal of Selektope * Limited impact on near-term estimates, EU ~2% of total sales * Voting e...
European Commission draft, suggests a non-renewal for Selektope under EU BPR, which now seems as the most likely scenario.
Today, I-Tech announced a strategic partnership (MoU) together with Chinese Havey, to develop and commercialize biodegradable binders.
Redeye lowers its forecast following softer-than-expected Q3’25 figures.
* Q3 softer due to sizeable customer trimming '25 volumes * '25e-'27e sales cut by 11-6% and '26e-'27e EBIT by 12-8% * We believe I-Tech rem...
Sales -18% vs. ABGSCe, EBIT SEK 11m vs. ABGSCe 16m* Newbuild market down 50% y-o-y, affecting growth * Sizeable customer has reduced planned...
Redeye considers I-Tech’s Q3 figures relatively soft, missing our top-line estimate by 10% and EBITDA by 18%.
* Report out on 17 October * Q3e sales of SEK 50m, +23% y-o-y, EBIT SEK 16m (9m) * Q3 rebound expected after Q2 dip Q3 expectations We esti...
Redeye lowers its estimates on the back of I-Tech’s second quarter, which showed a surprising slowdown in revenues.
* Weaker Q2 due to natural quarterly variations * Cut '25e-'27e EBIT by 12-13% * Demand intact, rebound expected in Q3 Growth halted, but we...
* Sales -39% vs. ABGSCe, EBIT SEK 5m vs. ABGSCe 16m * Weak Q2 due to inventory build-up following strong Q4/Q1 * Gross margin continues to i...
Redeye comments on I-Tech’s Q2 figures that missed our expectations, driven by weaker sales.
Q2e sales of SEK 52m, 22% y-o-y, adj. EBIT of SEK 17m (12m) FX headwinds, but we expect customer growth to remain solid Minor estimate chang...
Q1 revenues 3% below, EBIT DKK -1m vs. ABGSCe DKK 11m FY'25 guidance maintained, as expected Consensus to lower '25e EBITDA by ~10% on Q1 mi...
Redeye returns with positive estimate adjustments following I-Tech's Q1 2025 report that delivered strong figures, beating our estimates acr...
Strong Q1 sales of SEK 57m, +49% y-o-y '25e-'27e sales and EBIT up 5-6% and 9%, respectively Growth in market share should overshadow market...
Redeye comments on I-Tech’s Q1 figures that beat our estimates across the board, delivering growth of 49% and a record EBITDA margin of 35%.
Sales +9% and EBIT +14% vs. ABGSCe Expect cons. to raise '25e-'27e sales by ~3-4% USD/SEK movements expected to weigh on gross margin Anoth...
Report out 8 May at 08:00 CEST Q1e: sales of SEK 52m +37% y-o-y, adj.
Redeye makes positive estimate adjustments on the back of I-Tech’s record Q4 report delivering y/y growth of 130%.
Q4: Sales SEK 58m, +129% y-o-y, EBIT margin 29% '25e-'26e sales up 10-12% and EBIT adj.
Sales +36% and EBIT +82% vs. ABGSCe Expect cons. to raise '25e-'26e sales by ~15% Overall a strong beat across the board Strong Q4 report I...
Redeye comments on I-Tech’s Q4 figures that significantly beat our estimates across the board, primarily driven by stronger-than-expected sa...
Q4e: sales of SEK 42m, adj. EBIT of SEK 11m '24e-'26e sales up by 1-5% Q4 EBIT should be diluted slightly by bonuses Q4e: No drama We expec...
Redeye makes negligible estimate revisions on the back of I-Tech’s Q3 report, which posted continued solid growth and customer progress.
Q3: Sales SEK 41m, +27% y-o-y, adj. EBIT margin 27% (25%) Raise '24e-'26e sales and EBIT adj.
Redeye comments on I-Tech’s Q3 figures that posted solid growth of 27%, with healthy margins while EBIT missed our expectations by 6%.
Sales +5% and EBIT adj. +3% vs. ABGSCe Strong momentum in Selektope sales Diversified customer base - CMP now two thirds of sales Q3 result...
Q2: sales SEK 43m +30% y-o-y, adj. EBIT margin 28% (23%) Raise both '24e-'26e sales and EBIT by 7-5% Strong growth in Japanese market Q2: A...
Redeye makes upward estimate revisions on the back of I-Tech’s solid Q2 figures.
Redeye comments on I-Tech’s Q2 figures that were stronger than our expectations in all regards.
Sales 20% and EBIT adj. 34% vs. ABGSCe Strong quarter with record turnover Set to enter next phase of regulatory process Q2: Strong quarter...
Q2e: continued sales growth We expect sales of SEK 35m, up 9% y-o-y (+7% org.
I-Tech recently published that the BPC committee has adopted the previous interpretation of the endocrine disruption framework, meaning that...
ECHA's BPC adopts opinion that Medetomidine has ED properties European Commission now to decide on potential exception We believe case for e...
Japanese sales SEK 29m during first half of 2024, +96% y-o-y Growth driven by largest customer CMP and Kansai Paints Marine Continued Japane...
Redeye makes upward estimate revisions on the back of I-Tech’s solid Q1 figures.
Q1: sales SEK 38m, +24% y-o-y; adj. EBIT margin of 27% (27%) Demonstrated Q4 was temporary setback, long-term potential intact Costs associa...
Redeye comments on I-Tech’s Q1 figures beating our expectations across the board.
Sales +24% and EBIT +52% vs. consensus Strong quarter with record-high turnover and profit Outlook remains unchanged, strong demand Q1 resu...
- Q1e: sales SEK 32m, up 3.7% y-o-y, EBIT margin of 19.
Today, I-Tech announced a new customer agreement with the US paint manufacturer PPG.
New customer (PPG) launches Selektope-paint for the global market 4 out of ~9 relevant customers now have products on the market Good that c...
Interview with I-Tech's CFO Magnus Henell Continued growth and profitability in '24 New customer launch expected this spring Fireside chat ...
Redeye makes downward estimate revisions on the back of I-Tech’s Q4 figures, as sales were slightly postponed, and costs grew more than expe...
Q4: sales SEK 25m,-16% y-o-y; EBIT margin of -1.9% (17.
Redeye comments on I-Tech’s Q4 figures figures missing our expectations across the board.
- Sales -23% and adj. EBIT SEK -7m vs. consensus - Elevated temp.
Q4e: sales SEK 32m, up 6.4% y-o-y, EBIT margin of 21.
Redeye is surprised that I-Tech's CEO, Philip Chaabane has decided to step down from his position following 10 years of service.
Akzo Nobel Selektope product on Korean market in 6-12 months Adds Akzo Nobel to list of named customers, brining the total to four Supports ...
Redeye makes negligible estimate revisions on the back of I-Tech’s strong Q3-figures, posting organic growth of 48% while growing EBIT by 69...
Delivers on expectations, strong 51% y-o-y growth and profitability Outlook unchanged, tougher comps from Q4, discusses cash balance Trading...
Redeye comments on I-Tech’s Q3 figures with sales and EBIT figures overall aligned with our estimates, posting a 69% EBIT growth.
Sales -3% and adj. EBIT +2% vs. consensus Stronger than expected FCF on SEK 7m WC release Outlook unchanged, continued strong demand from pa...
A novel, environmentally beneficial approach to a USD 20bn problem A competitive edge in a USD 400m TAM, 2% share to grow 5x 35% EPS CAGR tr...
Redeye updates its estimates on the back of I-Tech’s solid Q2-figures, posting an organic growth of 79%.
Redeye comments on I-Tech’s Q2 figures, with a beat to our expectations.
Redeye updates its estimates on the back of I-Tech’s regulatory challenges during its re-registration process in the EU.
Redeye is surprised by the news that an advisory panel has suggested changed classification of I-Tech’s substance Selektope, during its re-r...
Redeye updates its estimates on the back of I-Tech’s Q1’23 report, delivering another significant estimate beat.
Redeye expects to increase its 2023 forecast following a solid estimate beat from I-Tech during the first quarter, posting organic growth of...
Redeye updates its estimates on the back of I-Tech’s Q4’22 report, delivering a significant estimate beat.
Redeye is positively surprised by I-Tech’s very strong end of 2022, posting organic sales growth of 85% and beating our estimates across the...
Redeye updates its estimates on the back of I-Tech’s Q3’22 report, beating our estimates again.
