Asetek Q1: Weaker than expected Q1, Simsports product launch is on track – SEB

Q1 results came in weaker than we expected, as the negative impacts from China’s Covid lockdown, supply-chain issues and cost inflation etc. in the global gaming market and Asetek’s business have been larger than we expected. On a positive note, the Simsports product launch is on track, with USD 1.5m orders, and the backlog at the end of April positively surprised us. Full-year guidance remains unchanged. We are looking into negative estimate revisions.

SEB Research

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