Equasens tracks worst day in two decades as growth halts in Q3

Equasens SA

10/11/2023 09:37

** Shares in Equasens  EQSE.PA  fall 14%, on track for their
worst day in over 22 years, after the healthcare IT solutions
provider's Q3 sales growth slowed down from previous quarters
    ** The company posts a stable Q3 revenue at 50.1 million
euros ($53.5 million); Stifel estimates this corresponds to an
organic decline of 3% y/y
    ** Portzamparc, which had expected organic sales growth of
6.3%, estimates the actual figure was -0.5%
    ** Stifel says the results were "disappointing", and notes
the company was up against a hard comparison base after it
benefited from the French digitisation programme Ségur last year
    ** "Excluding the Ségur program and M&A from revenue, we
estimate growth was c. 1% in the quarter, down from 3% in 2Q23
and 11.5% in 1Q23," Stifel adds
    ** The Pharmagest division - which provides services to
pharmacies in France, Italy, Belgium and Luxembourg, and
represents 74% of group sales - weighed the most on the results
    ** Portzamparc says the unit is impacted by "the difficult
context since September (down -3% in our opinion) in the French
pharmacy sector"

($1 = 0.9369 euros)

 (Reporting by Gaëlle Sheehan)
 ((gaelle.sheehan@thomsonreuters.com; +48 58 7785110;))