Solutions 30 shares plummet as FY profitability dips

Solutions 30 SE

28/04/2022 09:10

** Shares in Solutions 30  S30.PA  plummet over 13% after
the French tech company posted on Wednesday FY adjusted EBIT dip
    ** Solutions 30 reported FY core earnings of 40.8 million
euros ($43.00 million), down almost 33% YoY, but confirmed
long-term outlook 
    ** The company explains the strong drop of profitability
through smaller fixed costs absorption due to falling revenue in
France, effects from the pandemic (no work from home for
technical installations) and supply chain disruptions 
    ** Midcap Partners prefers to stay cautious on the company's
outlook, cutting PT by over 18% to EUR 9, but keeps its "buy"
rating, citing mid-term perspectives and the management's good
execution record
    ** Stock is heading for its worst day in almost 9 months,
and sits at the bottom of France's SBF 120  .SBF120  index
     
($1 = 0.9488 euros)

 (Reporting by Michal Aleksandrowicz)
 ((michal.aleksandrowicz@tr.com))