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Mentice Q2 2024: Reassuring rebound - Redeye

Redeye updates its estimates and valuation following Mentice’s Q2 2024 report. Both top-line and margins considerably beat our expectations, leading to a balanced H1 2024 after soft Q1 figures. We judge Mentice will see a more normal seasonality this year versus 2023, i.e., H2 sales and order intake should exceed H1. We nudge up our estimates and valuation.

Redeye updates its estimates and valuation following Mentice’s Q2 2024 report. Both top-line and margins considerably beat our expectations, leading to a balanced H1 2024 after soft Q1 figures. We judge Mentice will see a more normal seasonality this year versus 2023, i.e., H2 sales and order intake should exceed H1. We nudge up our estimates and valuation.
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