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Redeye provides an initial take on Enzymatica’s Q1 2023 report. Sales during the quarter amounted to SEK13.0m (SEK4.2m) compared to our sales estimate of SEK16.2m. Moreover, EBIT came in at SEK-14.4m (SEK-18.1m), and the cash position at the end of the period amounted to SEK38.4m. Overall, the results were a bit lower than our expectations, even if the results are in the right direction. We will provide a more in-depth update shortly, where we expect to make minor downward estimate changes; however, we do not believe in significant changes in our fair value range.
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