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Redeye expected higher sales in Q2, and so did Bong as well. Given the lower volumes, we find it encouraging that the impact on margins and earnings are quite limited. Overall, demand has been weak across the board due to the dampened consumer climate in Europe. Bong expects market conditions to improve later in the year. Redeye will have to lower 2023 forecasts, but probably no big changes to our longer-term projections.
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