Net sales and adjusted EBIT were close to market consensus (LSEG) in Q2. Revenue grew 12% on q/q basis and by 2% on y/y basis. Organic revenue growth without M&A and without the biggest customer was 14% in Q2 y/y. Incap’s factory in India reached a good growth in Q2. Furthermore, visibility has increased towards the year end. To further enhance revenue growth, Incap is now looking at potential acquisitions in Europe and the Asia-Pacific region. It makes sense for Incap to invest to growth because net gearing is negative, debt is not a problem and the company can clearly create shareholder value.

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