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Binero H2 2023: Good cost control, but sales and earnings below expectations - Redeye

Redeye states that the report was below expectations on sales and profitability. Redeye is particularly surprised about the implied Q4 numbers, which have historically been a seasonally strong quarter. Redeye expects to lower its estimates for the ‘core’ Binero group but increase its net forecast, including the acquisition of Infrateq. Redeye expects a slight reduction in its fair value range.

Redeye states that the report was below expectations on sales and profitability. Redeye is particularly surprised about the implied Q4 numbers, which have historically been a seasonally strong quarter. Redeye expects to lower its estimates for the ‘core’ Binero group but increase its net forecast, including the acquisition of Infrateq. Redeye expects a slight reduction in its fair value range.
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