Q3e: gradual recovery to continue
Generic has historically showed a stable development that stems from a recurring SaaS offering coupled with low churn in its client base. We see no reason to think this will not continue in the short term and therefore see another solid quarter in Q3e, with slightly higher sales growth q-o-q from a gradual recovery since the Q1 report (which had a lower growth rate). We expect 12% organic sales growth in Q3e, with better profitability, leading to 15% EBIT growth y-o-y.