TKH Group down as 'sober' outlook disappoints

TKH

05/03/2024 09:27

** TKH Group's  TWKNc.AS  shares fall around 6% after the
Dutch technology company said it expects a year-on-year decline
in Q1 core profit and sales 
    ** The company forecasts organic growth in turnover and
EBITA in 2024 "barring unforeseen circumstances", but for Q1
this year it expects a year-on-year drop in both metrics 
    ** Adjusted EBITA in 2023 grew 3.0% organically to 237
million euros  ($257.05 million), on sales of 1.85 billion 
    ** Results "are pretty much in line on headline numbers"
says ING, but adds that "outlook statements do not read very
convincing"
    ** Investors will be somewhat disappointed by the "sober"
outlook, ING adds 
    ** Degroof Petercam says H2 sales were in line with
co-compiled consensus but 2% below the broker's estimate, while
adj. EBITA and adj net profit were beats 
    ** "For FY24, we assumed flattish EBITA," - Degroof Petercam
    ** If losses hold, the shares will see their worst day in
over six months 

    
 




($1 = 0.9220 euros)

 (Reporting by Olivier Sorgho)
 ((Olivier.Sorgho@thomsonreuters.com))