Beijer Electronics Group Q2’20: First comments
Beijer Group reported lower sales and profitability than expected as Covid-19 had a more significant impact than anticipated on demand. Although Westermo continues its positive trajectory, the biggest sales deviation was attributable to its development. We will most probably adjust our 2020 estimates downwards after a weaker than expected quarter where order intake decreased 11% y/y. Our current base case amounts to SEK 46 per share.