Scanfil: End demand remains volatile - Nordea
Scanfil's Q2 net sales and clean EBIT were slightly below LSEG Data & Analytics consensus. Full-year guidance was repeated, despite market volatility. Because visibility has not greatly improved, we expect market consensus EBIT to decline by EUR 1m (2%) for 2024 after the earnings release. We believe end demand could remain modest for Industrial and Energy applications in Q3 2024. However, Q2 net sales already grew in the Medtec & Life Science segment on a q/q basis. Our fair value range remains at EUR 7.7-9.5, based on three equally weighted valuation approaches (DCF, EV/EBITDA and P/E). Marketing material commissioned by Scanfil Oyj.
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