Dignitana Q1’23: Reaching the inflection point
Redeyes’ view on Dignitana is generally unchanged. The sales momentum continued in the quarter with better cost control. The gross margin bounced back to the normal range after Q4. The US market is changing, and many positive signs exist. The turning to a positive EBITDA is positive, and together with solid 35% growth in the quarter, we see that the company has reached the inflection point. With the positive and negative estimate adjustments, we adjust our fair value range only at the high end to 23 (22) while maintaining our Base case value of SEK 12 (12) per share.
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