Q3 results
The Q3 numbers beat our lowered expectations, with the beat mainly driven by higher sampling cup sales, which we thought would come down more ahead of lower Q4 production, but also somewhat higher equipment sales. With headwinds from the previously announced programme shut-down, 10-20% lower volume reductions at most EU and NA OEMs due to the softening commercial vehicle market, and a weaker USD, sales were down 20% y-o-y, but the adj. EBIT margin of 40.6% only came down 0.9pp y-o-y, due to reduced opex.
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