Genovis: Initial Take on Q1’20 Encouraging, Despite Corona-driven Slowdown
Redeye retains its positive long-term stance on Genovis on the back of a quick glance at Q1 figures, the key take-away of which was the still steady underlying growth. A build-up of capacity and hence higher operating costs, in combination with a temporary slowdown due to the corona crisis, however, are causing some headwind and losses at the bottom line. Our positive main scenario is for stabilization and a return to strong growth and profitability during the second half of the year, and we believe Genovis should be fully back on track come 2021.