Redeye shares its thoughts following last Friday’s Q1 report from Alelion, where sales grew 137% y-o-y, primarily driven by delivered Terberg orders. We understand the market is seeing increasing demand for Alelion’s services, which also showed in Alelion’s Q1 order intake of SEK 22.7m (SEK 2.5m in Q1’20). We make minor estimate revisions and update our fair value range.