Elekta tops STOXX as Q1 order surpasses expectations
** Shares of Elekta EKTAb.ST jumped 10% after the Swedish radiation therapy equipment maker reported Q1 orders ahead of J.P. Morgan's expectations
** Stock is the best performer on pan-European STOXX 600 .STOXX index
** "We are experiencing strong customer interest in our industry leading offerings and long-term underlying demand for world-leading cancer care solutions," Elekta said
** "Sales were a 3.8% beat and adjusted EBIT came in 17.7% ahead - a SEK 43 million ($4.23 million) beat - although we note R&D capitalisation is up SEK 40 million year-on-year," J.P. Morgan wrote in a note
** Elekta is expecting net sales to rise by a mid-single digit percentage for 2024/25 fiscal year
** This growth is anticipated to be accompanied by an improved EBIT margin, driven by the recent launch of new product, Elekta Evo, the company says
($1 = 10.1693 Swedish crowns)
Reporting by Agnieszka Olenska
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