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SENASTE
Redeye provides a first comment on the back of Northbaze Group’s Q2 2023 report. Sales missed expectations by 17%, while the Gross margin aligned with our projections. Due to lower OPEX, EBITDA margin came out strong, showing 18% compared to last year’s 11%; considering this report, we anticipate only making minor adjustments to our short-term sales and cost estimates while maintaining our fair value range and base case.
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