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Mentice Q2 2023: Sales and margins above our estimates - Redeye

Redeye provides its initial take on Mentice’s Q2 2023 report, which came in broadly above our estimates. We judge that positives from the report include continued strong y/y top-line and order intake growth. Further, the company’s EBITDA and EBIT margins were c4-6% higher than we had pencilled in. Notably, we judge Q2 2022 represented soft comparables, though we still believe that Mentice posted unexpectedly strong numbers.

Redeye provides its initial take on Mentice’s Q2 2023 report, which came in broadly above our estimates. We judge that positives from the report include continued strong y/y top-line and order intake growth. Further, the company’s EBITDA and EBIT margins were c4-6% higher than we had pencilled in. Notably, we judge Q2 2022 represented soft comparables, though we still believe that Mentice posted unexpectedly strong numbers.
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