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Enea: Strong Report and New Buy-Back Program - Redeye

Redeye states that the Q3 report beat its estimates on all fronts. Primarily, profitability was impressive and almost reached the ambitious target of 35% EBITDA. Slightly higher sales, better gross margin and stronger cost control than expected explain the strong results. Also, Enea has decided to implement another buy-back program of similar size as the last one. Redeye is looking to raise its estimates on profitability, and raise its fair value range by around 10%.

Redeye states that the Q3 report beat its estimates on all fronts. Primarily, profitability was impressive and almost reached the ambitious target of 35% EBITDA. Slightly higher sales, better gross margin and stronger cost control than expected explain the strong results. Also, Enea has decided to implement another buy-back program of similar size as the last one. Redeye is looking to raise its estimates on profitability, and raise its fair value range by around 10%.
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