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SENASTE
Tempest Security reported Q2 net sales of SEK 109.4m (SEB was at SEK 110.3m) and reported EBITDA of SEK 7.6m (SEB was at SEK 4.8m) for an EBITDA margin of 6.9% (our estimate 4.4%). Adjusted for acquisition and restructuring costs, adj. EBITDA was SEK 8.2m (adj. EBITDA margin of 7.5%). Overall, the Q2 results implyup to double-digit upgrades to our 2022-24 earnings forecasts and confirms the investment case.
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