Inission

* Q3e: Sales of SEK 580m and adj. EBITA margin of 7.3% (6.5%) * Power recovery continues alongside EMS momentum * Trading at 13/10x '26e/'28e P/E vs Nordic EMS peers Q3 expectations We expect Inission's order intake to continue to develop positively,...

* Orders +5%, adj. EBITA +5% above us on higher Power margin * '26e-'28e adj. EBITA up 1-2%; expect company to beat FY guidance * M&A pipeline strengthening, aims to close an acquisition this year Q2 results Inission delivered a strong Q2, with adj. ...

* Orders +39% y-o-y and 5% above ABGSCe for a book-to-bill of 1.13 * EBITA adj. of SEK 41m, 5% above ABGSCe, 6.4% margin (4.8%) * FY guidance unchanged, but expected run-rate implies higher sales Q2 results Orders were up 39% y-o-y and 5% above our estimate...

* Q2e: 22% sales growth and adj. EBITA margin of 6.0% (4.8%) * We raise '26e-'28e adj. EBITA by ~1% on updated FX rates * Trading at 14x/10x '26e/'28e P/E vs Nordic EMS peers at 16x/12x Q2 expectations We expect Q2'26 sales of SEK 654m, up 22% y-o-y,...

* Sales up 37% y-o-y as adj. EBITA more than doubled * Continued order momentum drives estimate upgrades * Enedo recovering, M&A and Tunis factory to add further growth Q1 results The earnings-growth trend that started in Q3 accelerated in Q1. Sales ...