Hard, successful work seems to pay off in currency-struck Doro

Research Note

2015-06-24

00:18

37 municipalitites, including large ones such as Borås, Helsinborg and Lund has signed deals with Caretech according to Doro’s press release of yesterday, Tuesday. 20 of those municipalities was quite expected following the competitor, Tunstall’s, sudden exclusion from the SKL framework agreement. The strong Caretech development indicates, in our estimates, quarterly Caretech sales of at least SEK 36 million only from the Swedish and Norwegian subscription fees going forward. This is almost two times the average levels of 2013 and a 33 percent growth from the information provided by Doro in the announcement of the deal in Q4 2014. The positive message from Doro’s CEO, is that Caretech now can start earlier with focused efforts on international growth, which is promising as Sweden has the highest penetration among digital safety alarms.

VW

Viktor Westman

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