Anoto: Total rebuild
Anoto is becoming a software company as all customers from now on are required to pay licenses for the pattern and the software. This should render a positive bottom line effect over time but a few very soft quarters initially, similar to Q4. We therefore expect negative sales growth from the existing customers in 2018 but the Cevahir deal of USDm 7 should yield a group EBIT of SEKm 26. As we hate being materially wrong on the downside we have not included a single new big deal in our estimates, aside of Cevahir, meaning next big surprise should be positive..