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Q1 revenue was in line with our estimate, with a higher cost base than expected and a somewhat soft start to Q2. The average daily revenue in April was EUR 0.127m, 10% below our full Q2 average estimate of EUR 0.141m. As we expect activity to decrease further in June, compared to April, we lower our Q2 revenue estimate by 11%. However, we keep our full-year revenue estimate unchanged, as we expect investments to pay off and revenue to increase in H2. Overall, we lower our multiple-based fair value range to SEK 21-31 (26.1-36.6). Marketing material commissioned by Raketech Group Holding.
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