Redeye concludes that Railcare is posting another solid quarter with continued growth and stable margins. Q2 saw top-line growth of 14% Y/Y and EBIT margins unchanged just above 10%. The railway industry in Sweden has suffered from constraints in the planning system, with track timetables being announced at very short notice. Apparently Railcare has managed the situation well, so far. But the challenging market conditions remain, making the near-term outlook somewhat unpredictable. We will most likely only make minor changes to our financial forecasts and valuation.
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