G5 Entertainment Q1: Headline softer than expected, FX items burdening - SEB
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G5 Entertainment Q1: Headline softer than expected, FX items burdening - SEB

G5's sales came in -2% below on sales but 0% deviation on gross profit versus our expectations, highlighting continued gross margin gains. On EBIT, FX revaluations hit somewhat more than we had expected, and all in all we see -4% underlying mechanical revisions to EBIT with some negative extrapolations on a lower revenue base, we think. Cash flows remain well above operating profits.

G5's sales came in -2% below on sales but 0% deviation on gross profit versus our expectations, highlighting continued gross margin gains. On EBIT, FX revaluations hit somewhat more than we had expected, and all in all we see -4% underlying mechanical revisions to EBIT with some negative extrapolations on a lower revenue base, we think. Cash flows remain well above operating profits.
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