SMAG Mobile Antenna Masts: Output growth accelerates as orders firm up - NuWays AG Research

Q2 output growth accelerated. Total output rose 31% yoy to € 10.3m (eNuW: € 9.5m), following 11% yoy growth in Q1. Sales increased 4% yoy to € 6.2m; the difference reflects a build-up of work in progress ahead of delivery and customer acceptance in H2. Importantly, SMAG obtained its first industrial customer approval on a TaWAN system at the end of June. These milestones show the production ramp progressing well overall, in our view.

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