Sensys Gatso Q3 2023: Growth and earnings momentum has started

Research Note

2023-11-16

08:51

Redeye concludes that Q3 showed a very strong 65% y/y growth and with 7% EBIT margin - roughly in line with Redeye's estimates. Considering the exceptional order backlog and that the cost base has been temporarily heightened, Redeye believes the positive momentum in sales and earnings growth has just started. Sensys Gatso states that it is on track to reach its 2025 targets of SEK1bn revenues of which SEK600m TRaaS. Considering this, Redeye thinks Sensys Gatso has some significant positive news awaiting around the corner. Redeye believes it has previously been too cautious and will raise both estimates and fair value range.

JVK

Jesper Von Koch

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