Tommi has released a new company report on EcoUp following the H2 results. 
EcoUp’s financial statement release was overall slightly softer than our already low expectations. Guidance indicates that Technology business revenue will remain largely stagnant in the current fiscal year, and profitability for the period was also softer than expected. Reflecting these factors, we have lowered our short-term earnings forecasts, which makes the overall valuation look stretched. Reflecting the forecast changes, we are lowering our target price to EUR 1.3 (prev. EUR 1.4) and reiterating our Reduce recommendation.