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Siili lowers its FY/23 guidance by chopping the EBITA guidance range mid-point by as much as 27%. The sales guidance mid-point falls just 4%. The clearly weaker than expected profit warning looks to be due to intensified price competition and cost inflation not being fully transferred to prices. The new EBITA guidance mid-point is c. 24% below our current EBITA estimate, meaning significant pressure on short-term estimates. Siili reports its Q2 numbers on 16 August.
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