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Tempest Security: Temporary problems should be resolved soon - SEB

Tempest Security reported sales and EBITDA margins below our expectations. The Security Solutions segment experienced elevated personnel expenses due to difficulties in recruiting new employees and high levels of overtime. The Risk Solutions segment reported strong earnings with an EBITDA margin of 19.1%. We believe Tempest’s future looks stable, but we lower our assumptions and our mid-point to SEK 41.

Tempest Security reported sales and EBITDA margins below our expectations. The Security Solutions segment experienced elevated personnel expenses due to difficulties in recruiting new employees and high levels of overtime. The Risk Solutions segment reported strong earnings with an EBITDA margin of 19.1%. We believe Tempest’s future looks stable, but we lower our assumptions and our mid-point to SEK 41.
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