VIA optronics AG (NYSE:VIAO) shares were trading more than 2% higher today following the company’s reported Q2 results last week, with revenue growing 11.5% year-over-year driven largely by strength in automotive (up 257%) and industrial/specialized displays (up 7%), but coming in slightly below the consensus estimate (€43.7 million vs. consensus of €45.5 million).

According to the analysts at Berenberg Bank, the company’s estimate of 2021 revenue growth of around 20% year-over-year is impressive, taking into account the difficult environment with industry-wide component shortages impacting the automotive sector.

While sales and GM were solid, the company reported an EBITDA loss of €1.7 million versus Berenberg’s estimate of a €2.3 million gain. The company cited higher opex due to increasing R&D investment and headcount ahead of further display growth, and additional costs related to the recent Germaneers acquisition. While the EBITDA loss was disappointing and costs will likely remain elevated into 2022, the analysts believe consistent EBITDA profitability will transpire in 2022 as automotive sales accelerate.