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Asetek: Pre-released Q1 results: Better than expected Q1, 2023 guidance looks more conservative - SEB

Asetek has pre-released its preliminary Q1 results. Q1 obviously was a good start to the year, with revenue returning to growth (up 6% y/y) and significantly better-than-expected gross margins and EBIT. We see signs that the underlying market is starting to improve and if the trend continues, Asetek's current guidance for 2023 will look conservative. We expect to make small positive estimate revisions.

Asetek has pre-released its preliminary Q1 results. Q1 obviously was a good start to the year, with revenue returning to growth (up 6% y/y) and significantly better-than-expected gross margins and EBIT. We see signs that the underlying market is starting to improve and if the trend continues, Asetek's current guidance for 2023 will look conservative. We expect to make small positive estimate revisions.
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