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Exel’s Q3 revenue continued to grow y/y, albeit not quite as fast as was estimated since the figures softened a bit q/q due to seasonality but also because of extended market uncertainty. The revenue miss left the EUR 0.7m adjusted EBIT short of the EUR 1.5m/1.0m Evli/consensus estimates even if it improved by almost EUR 2m y/y. Exel retains its previous guidance, which was to be expected in any case.
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