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Redeye sees a mixed Q1 report from Proact, with solid organic growth in both Cloud and Support being the highlight, while the gross margin came in weak, resulting in an EBITA below our forecast. However, the gross margin was negatively affected by large system deals and improvement initiatives within the service segment, which should be temporary. While we will likely decrease our EBITA forecasts somewhat, we will probably retain our positive view of Proact.
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