Redeye is encouraged to see solid financial performance in Q1, showing good growth, improving gross margins and costs well contained. OXE Marine has a healthy order backlog for 2025 relating to contracts with the US Government. Still we would like to see further business announcements from a broader customer base, mitigating the dependency on the US Government. The US tariff situation can be handled but will have an impact if the tariffs on EU imports will be permanent. We will most likely only make small changes to our financial forecasts at this point.
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