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At its CMD today, Asetek reiterated its growth ambition of growing its sales at an average of 15% for the next five years and to reach annual revenue of USD 150m by 2025. We currently estimate 12% sales CAGR for the same period and USD 130m for 2025. We recognise that the new product category could provide decent long-term upside to our estimates, but we remain prudent on our estimates at this early stage. Our estimates and mid-point DCF value of NOK 150 are unchanged.
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