Ependion presented another quarter with strong numbers across the board. Organic growth of 21% and order intake up 11% Y/Y illustrates continued good demand in most segments and regions. Earnings reached a new all-time high with EBITA margins of 14.3%, closing in on Ependion’s 15% target. Redeye will likely raise our near-term forecasts on the back of an overall upbeat report.
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