Q218 results confirm the progress made during this transition year, as Bonesupport implements several important strategic changes. As we highlighted in our June initiation, focus on commercial execution with direct US distribution (from October 2018) and a stronger European commercial footprint should accelerate global CERAMENT sales, catalysing a return to growth in FY19. Upcoming Capital Markets events will provide detail on the longer-term growth drivers and plans for expanding the product offering. However, there are clear signs of optimism for the future, with management confident of achieving annual growth of c40% beyond 2019. Our forecast and DCF-based valuation of SEK1.325bn (SEK26/share) are unchanged.
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Transitioning with growing confidence
- Published:
30 Jul 2018 -
Author:
Mick Cooper PhD -
Pages:
3
Q218 results confirm the progress made during this transition year, as Bonesupport implements several important strategic changes. As we highlighted in our June initiation, focus on commercial execution with direct US distribution (from October 2018) and a stronger European commercial footprint should accelerate global CERAMENT sales, catalysing a return to growth in FY19. Upcoming Capital Markets events will provide detail on the longer-term growth drivers and plans for expanding the product offering. However, there are clear signs of optimism for the future, with management confident of achieving annual growth of c40% beyond 2019. Our forecast and DCF-based valuation of SEK1.325bn (SEK26/share) are unchanged.