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Redeye thinks FlexQube’s Q4 report was better than expected due to the high gross margin and the cost savings program progressing ahead of plan. Order intake grew 7% sequentially but left more to be desired from our side, indicating that the market is still somewhat cautious. However, with the first commercial order for the AMR Navigator in December 2023, we think 2024 could be an exciting year for FlexQube if additional orders are booked, given its high-margin profile.
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