Northbaze Group Q3’20: Solid Quarter Despite Pandemic Effects

Redeye remains cautiously positive to Northbaze Group on the back of a Q3-figures overall in line with our estimates. We believe the company is well-positioned for Q4 and 2021 with a solid order book and a lower cost profile, while some uncertainty remains with negative pandemic effects and a rather strained financial position if the next quarters don’t play out favorably..