A turning point in sight - A new analysis from Redeye!
Smarteq's Financial Report for the third quarter was marginally less good than expected. The company is still suffering from a lower demand from the Automotive industry and a decrease in sales within the M2M segment. On the other hand, a positive sign is incoming orders and order-stock, which are both increasing. The turnover Q3 was 9.5 MSEK and EBITDA result was -9.5 MSEK. A gross margin of 44 percent is more than acceptable.Smarteq's right issue during the 3:d quarter was successful and generated an extra 16 MSEK to the company, which means that Smarteq can prepare for 2010 and 2011 when several big projects shall be delivered.
We have adjusted our forecast for 2009 and 2010. Important contracts with Volvo, Continental and within the AMR-segment are approaching and the evaluation long term looks really interesting.
Read the full analysis from Redeye PDF (in swedish)
or click on http://www.redeye.se/analys/smarteq-b/31122
Automotive