Doro Q4: Significant improvement in smartphone sales
Research Note
2018-02-15
08:58
Doro today, Thursday, reported earnings for Q4. Sales and EBIT were already known from the announcement on January 18. We note that the weak performance is solely related to UK and the Nordics and notice that this is, according to the report, due to product launches from competitors and a weak market. DACH had a strong growth and EMEA was also solid considering the import ban in Algeria. As for the full year EBIT of SEK 92 million (our previous estimate was SEKm 87) we note that the gross margin in Q4 of 39.2 percent was slightly higher than our expected 38.8 percent.
VW
Viktor Westman
Disclosures and disclaimers