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Scanfil: Demand will likely remain weak in Q2-Q3 2024E - Nordea

Scanfil downgraded its full-year guidance on 10 June due to overall demand weakness. The company's expectations regarding order intake growth have been postponed to Q4 2024. The new guidance midpoint indicates a 10% y/y revenue decline this year, with a 7.1% EBIT margin. It stated that softness is coming from several customer segments and many countries. Pricing has held up well but delivery volumes have been weak, we believe. In this context, we cut 2024E EBIT by 5%. Our new fair value range is EUR 7.7-9.5 (8.0-9.8), based on three equally weighted valuation approaches (DCF, EV/EBITDA and P/E). Marketing material commissioned by Scanfil Oyj.

Scanfil downgraded its full-year guidance on 10 June due to overall demand weakness. The company's expectations regarding order intake growth have been postponed to Q4 2024. The new guidance midpoint indicates a 10% y/y revenue decline this year, with a 7.1% EBIT margin. It stated that softness is coming from several customer segments and many countries. Pricing has held up well but delivery volumes have been weak, we believe. In this context, we cut 2024E EBIT by 5%. Our new fair value range is EUR 7.7-9.5 (8.0-9.8), based on three equally weighted valuation approaches (DCF, EV/EBITDA and P/E). Marketing material commissioned by Scanfil Oyj.
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