* Multi-year contracts of MSEK 300 announced in April * Lower product sales in Q1 * We adjust our fair value to SEK 23 (18) per share
ANNONS
Advenica's Q1-report showed disappointing product sales, leading to a lukewarm quarter as a whole. Revenue landed at MSEK 39 versus MSEK 58 a year ago. Despite the report not being too exciting, the contracts entered in April certainly are. The company secured over MSEK 300 in multi-year contracts with Swedish authorities, including its largest deal ever at MSEK 230. New product launches have also broadened the portfolio. We increase our revenue forecasts leading to a revised fair value of SEK 23 per share.
