Netcompany track worst day in 7 mths as Q2 EBITDA dissapoints

Netcompany A/S

16/08/2023 09:10

** Shares in Netcompany  NETCG.CO  drop nearly 8% after the
Danish IT services provider posted its Q2 print, with quarterly
adjusted EBITDA falling below expectations, weak growth in key
markets raising concerns     
    ** The company reports adj. EBITDA at DKK 195.1 mln ($28.60
million), against DKK 188.8 mln a year earlier, 12% lower than
expected and "disappointing in several markets," according to
Jyske Bank analyst Anders Haulund Vollesen
    ** The analyst notes a series of disappointments in EBITDA
development across multiple markets, with weakened margins in
Denmark, Norway, the UK, and the Netherlands   
    ** Vollesen also points to the "significant" EBITDA margin
decline in Denmark, as it dropped to 18.1% from 20.3% q/q
    ** Share is on track for its worst day since January 
    
($1 = 6.8227 Danish crowns)

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