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SyntheticMR Q3: Sales beat and favorable outlook - SEB

We believe the Q3 report is solid with sales growing 40% y/y, coming in above consensus expectations, while EBIT was in line. SyntheticMR highlights positive development with its partners, as well as increased momentum in direct sales, which supports a positive outlook. The results could potentially drive low to mid-single-digit positive revisions to consensus FY 2022 sales estimates.

We believe the Q3 report is solid with sales growing 40% y/y, coming in above consensus expectations, while EBIT was in line. SyntheticMR highlights positive development with its partners, as well as increased momentum in direct sales, which supports a positive outlook. The results could potentially drive low to mid-single-digit positive revisions to consensus FY 2022 sales estimates.
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