Siili continued to struggle with sales growth in Q2, which saw sales decline by 12% y/y, missing our estimate by -3%. Yet, we take little comfort from recently downgraded guidance, which mid-point suggests the worst in sales decline is behind. Also, followed by strengthened sales and commercial offering, the company notes positive signs in sales development toward the end of the quarter. At first read, we justify neutral reaction given the recent share performance.
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