SimCorp drops as it pins 2022 results at low end of forecast

SIMCORP A/S

15/11/2022 08:43

** Shares of SimCorp  SIM.CO  fall around 6% after the
Danish IT software company said it sees 2022 results at the
lower end of its guidance
    ** "Continued macroeconomic turmoil negatively impacts our
operating environment, causing delays in order intake, client
dialogue and client decision-making processes, affecting
short-term revenue and margins," CEO Christian Kromann says
    ** SimCorp expects revenue growth at the lower end of its
7-12% range and EBIT margin in the lower half of 23-26%, both in
local currencies
    ** The shares are on track for their worst day since August
and among worst performers on Europe's STOXX 600 index  .STOXX 
 (Reporting by Agnieszka Gosciak-Rabalska)
 ((Agnieszka.Gosciak@thomsonreuters.com))