JMAT’s figures were a mixed bag but, between the lines, one could read some scepticism regarding the coming months. To recoup profitability, the company needs to successfully raise sales prices, which is a challenge especially in the five-year-framework with car manufacturers. The management was very confident that profitability will pickup in H2. The H1 figures did not fully meet consensus expectations (sales: -11.7%; adjusted EBIT: +1.8%).