Image Systems: Q4 2022, Initial take - Redeye

Redeye is encouraged to see continued solid performance in Q4. Both business segments are showing growth and beating our expectations. EBITDA margins are just above Image Systems own target of 15% in Q4 and for the full year 2022. Moreover, a strong cash flow of SEK11m in Q4 is reassuring. Obviously internal measures taken in the past year has paid off. Market outlook includes some short-term challenges for RemaSawco, while Motion Analysis appears to have a strong business momentum. We will make some adjustments to our forecasts but on balance probably no major changes.

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