Redeye shares its initial thoughts on CTEK’s Q4 report. The numbers were largely affected by one-time sales to GM, and by the cancellation of the partnership – which was already press released earlier in Q4 2024 - and did not come as a surprise. Adjusted for these effects, the report was largely in line with our estimates, where the Consumer division managed to show continued organic growth. On the other hand, the margins were slightly softer than expected across the board for CTEK – which seems to be driven by increased sales efforts and “a bad debt” in the Professional segment.
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