FY guidance hike lifts Exclusive Networks shares

Exclusive Networks SAS

14/09/2022 08:27

** Shares in Exclusive Networks  EXN.PA  rise 3.3% after the
French technology and cybersecurity firm upped its FY guidance 
    ** For FY 2022, it now expects gross sales above 4.2 billion
euros ($4.19 billion), adjusted EBITA of 146-152 million euros
and a net margin of 392-400 million euros 
    ** Exclusive Networks also hiked its 2022 net margin and
operating free cash flow before tax guidance
    ** H1 gross sales were up 33.8% YoY and H1 adjusted EBITA
rose by 39.3%
    ** "Overall, this is a good print, in our view, with the
raised outlook a testament to healthy execution and continued
strong demand for cybersecurity solutions," J.P. Morgan says
    ** Up to Tuesday's close, Exclusive Networks' shares were
down 9.9% year-to-date
    


($1 = 1.0017 euros)

 (Reporting by Valentine Baldassari)
 ((Valentine.baldassari@tr.com))