Redeye was hoping for even stronger top-line and earnings considering the new IP deal with Bosch which boosted numbers in Q2. But quarterly variations are normal, and we don’t read too much into it. Excluding IP/royalties, sales were still 12% higher Y/Y and Powercell has a solid backlog for delivery in the second half of 2025. Overall, management appears rather optimistic and sees an improving market climate.
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