Enea: Adjusted Profit Above Estimates – Repurchase Program Initiated – Redeye


Redeye states that adjusted EBITDA came in above Redeye’s estimates but that sales was just below estimates. Net profit and EBIT was significantly negatively affected by one-off costs, write-downs and provisions – all previously announced to the market. The most important message from the report is that Enea will initiate a repurchase program of a maximum of 10% of its total outstanding shares – something Redeye believes is smart and correct capital allocation. Redeye expects not to make any significant changes to its estimates or valuation range.