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Asetek Q2: A solid report, current guidance range still looks conservative - SEB

Asetek's Q2 results were much better than our expectations. It is positive that the gaming market and its G&E business are improving and sales of new business Simsports are ramping up. The company reiterated the new guidance range it released on 2 August. The higher end of the range assumes a softer H2/23 but this, in our view, seems conservative. We are looking into EPS estimate increases of about 40% for 2023, but much less for 2024 and onwards.

Asetek's Q2 results were much better than our expectations. It is positive that the gaming market and its G&E business are improving and sales of new business Simsports are ramping up. The company reiterated the new guidance range it released on 2 August. The higher end of the range assumes a softer H2/23 but this, in our view, seems conservative. We are looking into EPS estimate increases of about 40% for 2023, but much less for 2024 and onwards.
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