Hexatronic Group: The outperformance continues2017-05-17 12:27
Hexatronic continues to outpace our projections. During the quarter, net sales increased by 51%, of which 33% was organic. The profitability during the period was also higher than anticipated. The organic order backlog, at the beginning of April, was 37% higher than the same period last year; this indicates that the “high-season” will be fruitful.
The market for fiber investments remains strong and will so for many years to come. Hexatronic’s international expansion continues, and the company is well positioned for long-term growth.
We have adjusted our forecast upwards as the company continues to show strong progress. Our Fair value estimate, in Base-case, is raised to 57 (53) SEK per share. Our valuation range is also increased.