Net sales was close to market consensus in Q1 but the company’s profitability was clearly better than market consensus (Infront) expected. Profitability in Q1 was supported by cost savings resulting from the pandemic. Furthermore, the pandemic has reduced travel-related expenses. However, cost structure could be more normal in H2 2021. But Etteplan sees positive trend to continue during the year and upgraded full year EBIT guidance midpoint even by EUR 2m (8%). Operating cash flow stood at EUR 1.3m (2.2m a year ago) in Q1.
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