Enea: Higher Software Upgrades Activity
Redeye notes that the business seems to pick up the pace again for Enea. The company has during the past week won two big software upgrade contracts for a total of EUR ~7m. During the 2020 pandemic, some customers have delayed their software upgrades. The two contracts indicate that customers are coming back to a more normal activity, which is in line with our view that Enea's software is mission critical and can only be temporarily delayed.
We believe Enea is positioned for a sales growth of at least 20% during 2021. Earnings are set to scale by well over 30%, considering substantial, temporary one-time costs in 2020.