Enea Q2’24: Robust growth and profitability - Redeye
Bildkälla: Stockfoto

Enea Q2’24: Robust growth and profitability - Redeye

Redeye states that Enea showed in Q2 that organic growth is here to stay, delivering +14% y/y growth. Particularly encouraging is the growth in the two core business areas - +25% y/y in Networks and +15% y/y in Security. With 35% EBITDA margin, Enea once again proved strong profitability, albeit just below Redeye's estimates. Outlook remains unchanged with "30%+ EBITDA margin and strong cash flow" for 2024. Redeye will likely only make minor estimate changes and maintain its fair value range.

Redeye states that Enea showed in Q2 that organic growth is here to stay, delivering +14% y/y growth. Particularly encouraging is the growth in the two core business areas - +25% y/y in Networks and +15% y/y in Security. With 35% EBITDA margin, Enea once again proved strong profitability, albeit just below Redeye's estimates. Outlook remains unchanged with "30%+ EBITDA margin and strong cash flow" for 2024. Redeye will likely only make minor estimate changes and maintain its fair value range.
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