Simcorp: New 2020 guidance drives shares

SIMCORP A/S

19/05/2020 10:44

** Shares in Danish IT software company Simcorp  SIM.CO 
rise 6% after new revised 2020 guidance  urn:newsml:reuters.com:*:nASN0006XO
    ** The company now expects 2020 EBIT margin of between 22.0%
to 27.0%, and revenue and EBIT margin to be higher in H2 than H1
    ** Simcorp withdrew its previous guidance of 2020 EBIT
margin between 24% and 27% on March 18 due to COVID-19 impact
 urn:newsml:reuters.com:*:nFWN2BB1H4
    ** Handelsbanken says the quarterly EBIT miss is mitigated
in full by better-than-feared new 2020 guidance
    ** The broker adds the mid-point of new guidance would imply
a hike in pre-Q1 EBIT consensus of close to 14%, some 7% above
its own estimate
    ** The stock is set for its best day in a year, among top
performers on Stoxx600  .STOXX 


($1 = 0.9153 euros)

 ((jagoda.darlak@tr.com))