Compugroup down on forecast cut after failed acquisition

Agfa Gevaert NV

16/09/2019 08:31

** Shares in German software developer Compugroup Medical
 COPMa.DE  down 4.8% 
    ** The company says negotiations to acquire a larger
non-European healthcare IT provider ended on Sunday, resulting
in transaction costs of a low double-digit million euro amount 
    ** Compugroup cuts 2019 full-year EBITDA forecast to between
175 million euros and 190 million euros from a previous range of
190 million euros to 205 million euros excluding M&A transaction
costs  
    ** The company keeps 2019 revenue forecast at 720 million
euros to 750 million euros
    ** "While the reduced M&A guidance might be taken as a
negative by the market, we would not overrate it, given the
one-time nature of the reason for the guidance cut," Baader
Helvea analyst Knut Wolle says

    

 (Riham.alkousaa@thomsonreuters.com)