Cellavision Q2’23: In line with our expectations – Redeye


Redeye’s first take on the Q2 report this morning. Cellavision presented a report aligned with our lowered expectations but clearly performed better than in Q1. The organic growth continued to be negative as expected and showed a negative 15% in the quarter; with the favorable currency effects, the decrease in sales was 8%. We expect minor revisions to our estimates and likely small changes to our fair value range and Base case.