Duell: Winter better than we had feared - SEB
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Duell: Winter better than we had feared - SEB

Although Duell’s Q2 was coloured by a lack of snow which dampened snowmobile-related sales, the results beat of our expectations. Expansion outside of Nordics has been positive in recent quarters but clients may still hold elevated winter inventory. The seasonally high leverage was below our projection, but inventory management is likely to be in focus in H2 given the elevated leverage and increased economic uncertainty.

Although Duell’s Q2 was coloured by a lack of snow which dampened snowmobile-related sales, the results beat of our expectations. Expansion outside of Nordics has been positive in recent quarters but clients may still hold elevated winter inventory. The seasonally high leverage was below our projection, but inventory management is likely to be in focus in H2 given the elevated leverage and increased economic uncertainty.
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