Redeye states the report aligned with its sales estimates. EBIT margin, and updated profitability targets were major letdowns. However, Redeye believes that the reduced margin is a temporary issue. Additionally, Redeye’s perpetuity EBIT margin is 13%. Thus, at the lower end of the reduced profitability target of an EBIT margin of 15% ± 2pp. Hence, a limited impact on Redeye’s base case.

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