Innofactor: A weaker quarter - Evli

Innofactor’s Q2 results fell below our expectations both due to a minor net sales decline and one-off legal expenses. Net sales declined ~1% y/y to EUR 19.9m (Evli EUR 20.9m) while EBITDA amounted to EUR 0.6m (Evli EUR 2.1m). EBITDA included legal expenses of EUR 0.75m, without which EBITDA would have been EUR 1.4m (~7% of net sales).

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