Q3e: likely better than Q2, but still a ways to go
We expect sales of SEK 49m, down -14% y-o-y, but up +17% q-o-q, as customers' inventory reductions begin to ease. Higher q-o-q revenue and initial effects of the cost savings programme should improve margins somewhat compared to recent quarters, and we estimate EBIT of SEK -3m (-7% margin). After adding negligible financial items and taxes to this, we estimate net income of SEK -4m (-7% margin). The company should see some inventory release in the quarter, and we predict lease adj. FCF of SEK +1m, leaving a cash balance of SEK 21m.