Genovis: Solid Underlyings, Estimates Raised

Redeye views Genovis’s Q3 results positively, overall, with particular reference to continuing steady organic growth (18% y-o-y) in Analytics and the double-digit operating margin – recall that Genovis had incurred operating losses for three consequitve quarters due to a combination of corona-related slowdown and a build-up in costs. While the outlook naturally is clouded by all too well known uncertainty, the longer term case is as intact as attractive, in our view.