Netcompany slides to bottom of STOXX after 'disappointing' Q2

Netcompany A/S

11/08/2022 08:34

** Shares in Netcompany  NETCG.CO  slide 10% to the bottom
of STOXX 600  .STOXX  after the Danish IT services provider
reported "disappointing" Q2 results  urn:newsml:reuters.com:*:nASM000MXP 
    ** Q2 adjusted EBITDA came in at DKK 188.8 million ($26.17
million), which is 28% below consensus according to Jyske Bank
    ** "Netcompany delivered a disappointing Q2 result where the
top line came in 4% lower than expected," the broker says
    ** The brokerage notes the "surprisingly low growth" in
Denmark and Norway, as it was impacted by high level of illness
in Denmark and an adjustment to three major projects in Norway
    ** The stock, which has lost almost half of its value so far
this year, is on track for its worst day since January
    ** Today's losses wiped off DKK 3 billion from the Danish
group's market cap
    


($1 = 7.2138 Danish crowns)

 (Reporting by Jagoda Darlak)
 ((jagoda.darlak@tr.com))