Bittium: Q1 missed, but order intake momentum remains exceptional - NuWays AG Research
Bildkälla: Stockfoto

Bittium: Q1 missed, but order intake momentum remains exceptional - NuWays AG Research

Yesterday, Bittium published its Q1'26 business review. Group sales increased 10.2% yoy to € 21.3m vs. eNuW € 26.9m and BBG cons. € 27.6m, with the miss mainly stemming from deliveries timing, thus not a cause for concern (eNuW). EBITDA came in at € 2.8m vs. eNuW € 5.2m and BBG cons. € 6.4m, while EBIT of € 1.5m was in line with eNuW but below BBG cons. € 2.9m. As guided in February, sales and operating profit are expected to be heavily H2-weighted, reflecting the typical seasonality of the business.

We keep our BUY rating and € 40 PT unchanged, based on DCF.
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