GWS: New product is a smart move2016-12-12 10:20, Edited at: 2017-01-20 13:50
Net sales in Q3 was SEK 2.7 million which was very close to our estimates of SEK 2.8 million. Capitalised cost however was lower than expected resulting in an EBIT of SEK -4.8 million (estimate SEK -3.4 million).
Two new partnership agreements have been announced since our last research update. Both have a good potential in generating cash flows in the first half of 2017. GWS also has a new product offering that should attract larger organizations.
Our estimates remain unchanged. Our fair value range indicates a value of SEK 6-24 SEK with a DCF-value of SEK 13 in our base case.