Safello’s net sales came in 9% below Redeye Research Estimates (RRe) at SEK194m, growing 1% y/y. The average transaction size surprised on the upside, coming in 15% above RRe, despite a challenging market backdrop, while the number of orders was 9% below expectations. Adjusted EBITDA was SEK-1.4m, due to higher operating expenditure (OPEX), partly weighted by ~SEK0.6m in one-off MICA implementation costs, and lower than anticipated sales. Overall, Redeye deems the report on the weaker side, mainly due to a challenging backdrop.
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