Genovis – Positive immediate impression of Q2’20

Research Note

2020-08-13

08:48

Redeye remains positive to the Genovis case following today’s Q2’20 results release which, in our view, was comforting in the circumstances. Genovis delivered positive growth in the core Analytics area in the quarter (+11%) and managed to stay close to black figures (adjusting for one-offs) during what arguably will be the trough period – reassuring; particularly the top-line was well ahead of our forecast. The company appears well positioned to continue its successful long-term journey as the world continues its admittedly patchy recovery from the corona crisis, with key markets eventually opening up in earnest and for good.

Håkan Östling

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