Given we had lowered our estimates ahead of the results, Q2 was a slight disappointment. Nonetheless, the miss is primarily due to the already known supply chain disruptions in Dynavox, which largely will be offset in H2/21. We see no reason to change our view that the pending spin-off will catalyse value and improve perception on the long-term potential in the to-be separate units. Our sum-of-the-parts now yields a mid-point of SEK 80 (SEK 85).
LÄS MER