SEB taas tarinoi näin:
Winter better than we had feared
Although Duell’s Q2 was coloured by a lack of snow which dampened snowmobile-related sales, the results beat of our expectations. Expansion outside of Nordics has been positive in recent quarters but clients may still hold elevated winter inventory. The seasonally high leverage was below our projection, but inventory management is likely to be in focus in H2 given the elevated leverage and increased economic uncertainty.
Fair equity value range to EUR 6.9-7.8 (7.3-8.2) per share
We update our fair value range to EUR 6.9-7.8 (7.3-8.2). The Q2 results were ahead of our expectations, but general economic uncertainty has increased.