Lifeclean Q3’2024: First impression – Softer top line - Redeye

Redeye comments on the Q3 report from Lifeclean. Sales and results deviated from our expectations negatively and followed a more decisive previous quarter. The sales development year on year was positive. However, the top line is a bit soft considering the strong outcome in the last quarter and given the positive momentum the PFAS sector is experiencing. The costs were lower than expected and helped the EBITDA/EBIT to be close to our estimate. With the initial view, we expect to lower the sales estimates for Q4 and, thus, for 2024e. We expect to reduce our Base case by 5-10%

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