Former stock market darling Allgon has resurfaced after antenna manufacturer Smarteq in January this year completed an acquisition of Åkerströms, a specialist in industrial remote control, and readopted the Allgon name. Allgon intends to build a strong group of companies in wireless communication, and we see an interesting opportunity to join a growth journey with more acquisitions planned.
This year Allgon will focus mainly on further streamlining its antenna business and integrating Åkerströms. We expect the growth journey to begin for real in 2017
We anticipate 2016 sales of SEK 140 million and a positive operating profit of nearly SEK 4 million. For 2017 we expect sales to reach SEK 173 million and that Allgon will report EBIT of SEK 14 million.
Despite good news the Allgon share has slid more than 20 percent since early May. We see a good opportunity to invest.
Read more in our analysis report that can be downloaded below.