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AsetekQ3: A soft quarter - SEB

Q3 results missed our estimates on the top line and but were in line on gross profit. Q3 EBIT was impacted by one-off items and clean EBIT was USD -3.1m vs. our est. at USD -2.7m. The company has sustained its current 2021 guidance range but is guiding towards the lower end of the revenue guidance range of 10-20%. We currently expect 10% revenue growth and EBIT of USD 0.6m for 2021 and are looking into minor est. revisions.

Q3 results missed our estimates on the top line and but were in line on gross profit. Q3 EBIT was impacted by one-off items and clean EBIT was USD -3.1m vs. our est. at USD -2.7m. The company has sustained its current 2021 guidance range but is guiding towards the lower end of the revenue guidance range of 10-20%. We currently expect 10% revenue growth and EBIT of USD 0.6m for 2021 and are looking into minor est. revisions.
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