We were encouraged by the Q1 report that showed ongoing good organic growth and a favourable mix along with solid operations. Given a strong leading market position in select areas within oil & gas, nuclear, and medical, we believe Alleima is well positioned for solid earnings despite a more uncertain macroeconomic environment, FX headwinds, and a possible economic slowdown. Due to our more positive view on top-line growth for the tube division, we have raised our underlying 2025–2026e EBITDA by...
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