Redeye - Doro can boast with strong Q3-numbers

The revenue in Q3 widely exceeded our estimates of SEK 291 million, coming in at SEK 330 million. As a result EBIT amounted to SEK 29 million, instead of our estimates of SEK 19 million. We expected continuing weak sales in the Nordics and in North America, but sales in all markets grew more than expected. The order intake was even stronger than sales and came in at SEK 424 million. This represents a 16 percent annual growth and is due to the new listings from e.g. Vodafone and Telekom Deutschland.

Following the strong Q3, we have raised our sales estimates for Q4 and 2015.  Our new fair value is SEK 48 (46) and 21 percent over the current share price. As usual we goes through our bear and bull cases in the PDF-analysis.

Read the full PDF-analysis:

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