Q2 expectations
We expect Q2 sales of EUR 43m, +1% y-o-y and +11% q-o-q. For Ports & Maritime we expect sales of EUR 26m (+1% y-o-y) and for Industry EUR 17m (+2% y-o-y). After a weak order intake in Q1 (after a strong Q4), we expect orders to pick up somewhat in Q2e and estimate EUR 41m (+3% y-o-y), implying a b-t-b of 0.96x (0.95x). We anticipate the company's change programmes to continue to yield higher margins, and on EBIT we estimate EUR 3.4m (2.4m), for a margin of 8% (7%).
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