SyntheticMR reported Q2 sales of SEK 11.9m and EBIT of SEK -8.2m, in line with the preliminary figures, but we note cash flow was strong. The company says that a new manager and new salespeople have been hired in North America, illustrating that the first steps toward a turnaround have been taken. Our estimates are largely unchanged following the full Q2 figures. Our fair value range still stands at SEK 15-18.

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