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Redeye provides its initial comments following the Q1 2024 report from Fragbite Group. Net sales were SEK52.5m, almost exactly in line with our estimates of SEK52.6m. Adjusting for a divestment of intangible assets amounting to SEK16m, the EBITDA-Capex was SEK-24.5m in the quarter. We will return with an in-depth update where we incorporate changes to our estimates and valuation.
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