* Product order of MSEK 41 to be delivered in H1 2027
* Positive EBIT despite low product sales
* We keep our fair value of SEK 23 per share
Advenica reported a positive EBIT of MSEK 0.1 (-2.7) in a seasonally subdued third quarter, with net sales of MSEK 40.3 (34.1), somewhat below our estimates of MSEK 53.2 in net sales and MSEK 1.0 in EBIT. During the period, Advenica delivered its first-ever order to NATO, via the NATO Communications and Information Agency, and in October it announced a product order worth MSEK 41 from a Swedish authority. With product orders lined up to be delivered in Q4, we expect it to be the strongest quarter of the year, and we make minor adjustments to our forecasts. We keep our fair value of SEK 23 per share.