Redeye: Enlabs - Baltic acceleration

Enlabs´s sales and earnings came in above our estimates. The sales came in at EUR 8.9m (estimated EUR 8.6m), and the EBIT came in at EUR 2.2m (estimated EUR 2.0m). The online growth in the Baltics is accelerating. Enlabs had an online gambling growth of 25% Q/Q and the underlying markets are growing rapidly. Furthermore, the launch of Optibet in Lithuania has not had any impact on the sales yet. However, the traffic-data looks promising. We have updated our estimates, which results in a new fair value of SEK 29 per share in Base case.

Read more and download the research update: http://bit.ly/2IwmLuZ

Start following companies at Redeye to receive the latest equity research within Life Science and Technology.

This is a press release from Redeye - Research Powered Investment Banking. https://www.redeye.se/about/