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Siili: Q2: Below our estimates, organic growth slows to 3% - SEB

Siili's Q2 came in below our estimates as the slowdown in organic growth was faster than expected. As noted in touch with a profit warning earlier in the summer the market environment remains tough with tight pricing. Although the Q2 deviation will put further pressure on estimates we note that the initiated efficiency measures should offset the full-year estimate revisions. Given the decreased share price we believe in a flat/slightly negative reaction on the report.

Siili's Q2 came in below our estimates as the slowdown in organic growth was faster than expected. As noted in touch with a profit warning earlier in the summer the market environment remains tough with tight pricing. Although the Q2 deviation will put further pressure on estimates we note that the initiated efficiency measures should offset the full-year estimate revisions. Given the decreased share price we believe in a flat/slightly negative reaction on the report.
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