Netcompany hits best day in more than a year after Q1 EBITDA beat

Netcompany A/S

03/05/2024 08:49

** Shares in Netcompany  NETCG.CO  rise 10.3% after the
Danish IT services provider posted its Q1 print, with
better-than-expected quarterly adjusted EBITDA, announcement of
a new share buyback program 
    ** "EBITDA landed at DKK 247.1 million, 5% higher than
anticipated and corresponding to an EBITDA margin of 15.4%,"
says Jyske Bank in a note 
    ** Jyske Bank also points to the progress in its EBITDA
margin in Denmark, driven by a better gross margin and lower
administrative costs 
    ** Additionally, the company announced a new DKK 250 million
 ($35.97 million) share buyback program, which is seen as a
positive surprise by the broker 
    ** Share is on track for a best day since November 2022
    

($1 = 6.9502 Danish crowns)

 (Reporting by Jesus Calero)
 ((Jesus.calero@thomsonreuters.com))