Munters shares hit record high after Q2 beat

Munters AB

17/07/2024 09:11

** Shares in Munters  MTRS.ST  rise 27%, trading at an
all-time high price, after the company posted an earnings beat
and announced deals 
    ** Jefferies says the Swedish air treatment solutions
provider's Q2 EBITA was a strong beat 
    ** Adjusted EBITA rose 41% year on year to SEK 673 million 
($63.47 million)
    ** "Alongside the report, the company also announced the
intent to divest the equipment business in FoodTech, as well as
the acquisition of Geoclima today, broadening the company's DCT
cooling portfolio," the brokerage adds
    ** Shares are on track for their biggest single-day jump
ever, topping the STOXX 600  .STOXX  index
    ** Wednesday's gains add 10.0 billion Swedish crowns to the
company's market cap and more than wipe off losses from earlier
in the month triggered by Kepler's cut and cautious estimates
for Q2 numbers


($1 = 10.6035 Swedish crowns)

 (Reporting by Greta Rosen Fondahn)
 ((Greta.RosenFondahn@thomsonreuters.com))