Here is the company report from Lucas following Metacon’s Q2 results ![]()
Although Metacon continued to execute on its order backlog in its Q2 report, we believe the key takeaways were the weak order intake and management’s comments on the slow development of the market. With the order backlog now shrinking, the short-term buffer recently secured through the rights issue will not last long without new orders, which increases financial risk. Poor visibility regarding both order intake and a sustainable financing solution has led us to lower our target price to SEK 0.19 per share (previously SEK 0.23 per share). Since the expected return is now below our required rate of return, we are downgrading our recommendation to “reduce” (previously “accumulate”).