Enea (Q2 Review): Cheap, but waiting on growth - Redeye

A stable quarter, but below the outstanding Q1 despite Q2 being seasonally stronger. Net sales fell 3% (organic -1%) but landed 1% above Redeye's estimate, while adj. EBITDA came in 3% above. Despite the in-line print, the share fell 14%, reflecting the absence of growth and headwinds that may persist through H2 and pressure the full-year sales target. Redeye trims its estimates but leaves its fair value range unchanged. On Redeye's newly launched, proprietary value score, Enea screens cheap — as it has for over a year without moving. The marginal buyer wants growth, not cheapness, and will not pay up until it returns.

Länk till analysen i sin helhet: https://www.redeye.se/research/1174482/enea-q2-review-cheap-but-waiting-on-growth?utm_source=finwire&utm_medium=RSS