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Mentice Q2 2023: Sales growth and margin expansion - Redeye

Redeye updates its estimates and valuation following Mentice’s Q2 2023 report. We judge that positives from the report include continued top-line and order intake growth. Further, the company’s EBITDA and EBIT margins were c4-6% higher than we had pencilled in. Notably, Q2 2022 represented soft comparables, though we still judge that Mentice posted unexpectedly strong numbers.

Redeye updates its estimates and valuation following Mentice’s Q2 2023 report. We judge that positives from the report include continued top-line and order intake growth. Further, the company’s EBITDA and EBIT margins were c4-6% higher than we had pencilled in. Notably, Q2 2022 represented soft comparables, though we still judge that Mentice posted unexpectedly strong numbers.
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