ChemoTech: Good order flow, slow sales (Västra Hamnen)
Västra Hamnen Corporate Finance has released a research update on Scandinavian ChemoTech following its report for Q1 2019. Orders were impressive while sales were disappointing. On the whole, our valuation range remains intact.
- Four IQwave™ units ordered in Q1, a new record
- Sales were disappointing in the quarter
- CE mark awarded in Q3 at the earliest
In the Q1 report last week, Scandinavian ChemoTech summed up its best quarter so far in terms of number of IQwave™ units ordered. Revenues were however surprisingly low compared with recent quarters. Comparing the accounts for Q1 with previous periods is however complicated by the switch to consolidated financial statements, effective from the start of 2019.
The full report is available here.
The research report is prepared as part of Market Focus, Västra Hamnen Corporate Finance's commissioned research offering.