Adesso soars on strong Q3, sees FY sales at high end of guidance

adesso SE

14/11/2022 08:51

** Shares of Adesso  ADNGk.DE  jump 14%, on track for best
day since March 2020 after the German IT service provider
reported strong rise in Q3 figures and pegged FY sales at high
end of its guidance
    ** It posts 39% YoY growth in Q3 sales to 241.4 mln euros
($249.5 mln) and adj. EBITDA up 30% at 33.3 mln euros, both at
record levels according to the company
    ** Adesso says that despite lower number of working days in
Q4, it is set to reach FY sales at the upper end of its outlook
range
    ** "Adesso showed a strong Q3 print today, and confirmed its
full-year guidance," Jefferies says, noting strong organic sales
growth so far this year despite macro headwinds
    ** The stock, down 36% YTD, is the top performer on the
German small-cap index  .SDAXI 
($1 = 0.9675 euros)
 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))