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SENASTE
Tempest Security reported Q1 sales of SEK 76.3m (SEB SEK 78.8m) and EBITDA of SEK 1.6m (SEB SEK 1.0m), yielding an EBITDA margin of 2.1% (SEB 1.3%). The pandemic continues to burden sales but commercial activity had increased by end-Q1. Group EBITDA fell y/y but was burdened by growth initiatives (M&A, IT and strategic recruitments) and all operational segments improved margins y/y. The Q1 results imply limited changes to our earnings estimates and investment case.
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