Redeye Update: Formpipe: Undramatic Q2, plenty in the pipe
Q2 revenue at 101. 5 mSEK was above our expected 94. 8; EBIT was reported at 4. 7% (7.
8% excl. non-recurring cost) compared to our estimate of 6. 6%.
The report contains positive signals confirming our expectation of further margin improvements in next quarters and also mid-term future – which however already is priced into the share. No news from Life Science team means continued waiting for traction in the area – but other areas are making up for it for now. Our fair value range remains practically unchanged.
We increase our Financial Strength Rating by 1 pt given sustainably reduced debt levels that also allowed for a 2015 dividend. Read the full update for more details.