NetCompany slumps to bottom of STOXX on 'soft' Q4 results
25/01/2022 10:44
** Shares of NetCompany NETCG.CO fall 7% to DKK 526, their
lowest in more than a year, after the Danish IT consultancy
firm's Q4 results came in below market expectations
** Citi says the company reported "soft" Q4 results with
revenue and adj. EBITA around 2% and 14% below consensus
respectively
** NetCompany's Q4 revenue grew by 48% in constant
currencies to DKK 1.14 bln ($172.89 mln) vs. DKK 1.17 bln
consensus estimate, according to Citi; Q4 adj. EBITA was DKK
210.3 mln vs. DKK 246 mln seen by consensus
** NetCompany expects its 2022 revenue growth to come
between 48-56%, of which 13-18% organic - also slightly below
market estimates, Citi says
** The stock, down around 25% YTD, is at the bottom on the
pan-European STOXX 600 .STOXX index and on track for its worst
day since November 2020
($1 = 6.5936 Danish crowns)
(Reproting by Marie Mannes)
((Marie.mannes@thomsonreuters.com))