Q2 seems to have developed in a similar way to Q1, with the trend of longer decision cycles and customers holding back investments being in full force. We expect StrongPoint to report Q2 revenues of ~NOK 306m (-9% y-o-y), driven by a 17% y-o-y decline in the Products segment (Services flat). The gross margin will likely hover at39-40%, an improvement from the ~36% in Q1, but slightly below the 40.4% in Q2'23. We forecast Q2 EBITDA of ~NOK -12m, but note that the company will book ~NOK 10m in restructuring expenses (one-off), i.e. Adj. EBITDA is closer to ~NOK -2m. We anticipate Q2 EBIT and net profit of ~NOK -23m and NOK 20m, respectively.
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