Although revenue in the last quarter of 2024 was around the level we had expected, the company managed to defend its profitability better than we had predicted.

In view of our forecasts for a significant improvement in both revenue and profitability, only a guidance for strengthening revenue and profitability would be in line with our expectations.

Componenta's Q3 figures were below expectations across the board, with a clear miss on revenue. However, revenue and earnings guidance for 2024 was maintained, so the rest of the year will be busy.

Componenta will publish its Q3 report on Friday, November 1, at 8:00 am EET. Our expectations for Q3 volume and earnings development are rather conservative, which will put some pressure on Q4'24 forecasts if and when Componenta reiterates its earlier guidance for 2024. We find the stock's valuation attractive.