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Image Systems Q3’21: Initial take - Redeye

Redeye is encouraged to see strong earnings despite lower sales than we anticipated. EBITDA margins above 20% in the quarter is quite a surprise and probably an ATH for the group. The general market outlook seems ok and we expect to see both business segments gradually returning to positive growth. Following the last two reports, showing good cost containment and improving earnings, we are growing more confident in Image Systems’ turn-around.

Redeye is encouraged to see strong earnings despite lower sales than we anticipated. EBITDA margins above 20% in the quarter is quite a surprise and probably an ATH for the group. The general market outlook seems ok and we expect to see both business segments gradually returning to positive growth. Following the last two reports, showing good cost containment and improving earnings, we are growing more confident in Image Systems’ turn-around.
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