Redeye updates its estimates and fair value range following CTEK’s Q1 results, which exceeded our expectations on all levels. We are particularly positive to see the Professional segment reporting positive EBITDA for the first time ever, and we are also positive to see the North American market holding up strongly (and even showing underlying growth) despite the current geopolitical turmoil. CTEK will hold a capital markets day in Stockholm on 22 May, which we believe could further outline the profitable growth map in the coming years.

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