TKH shares slump on profit warning

TKH

12/11/2024 08:30

** Shares in TKH Group  TWKNc.AS  drop more than 10% after
the Dutch technology company warned on FY profit
    ** It posts a 22% decrease in Q3 EBITA to 42.1 million euros
($44.74 million), below Jefferies' estimate of 54.8 million,
Degroof Petercam's forecast of 63 million and one from KBC
Securities at 48 million
    ** TKH sees flat organic growth in annual turnover (vs
positive organic growth previously) and EBITA of 200-210 million
euros (vs 210-220 million euros earlier)
    ** "Continuing headwinds across the board" - Jefferies
    ** "3Q24 trading update disappoints again" - KBC Securities
    ** "We knew that 2024 was not going to be a good year.
However, TKH continues to amaze in a negative way on their
outlook," KBC adds
    ** However, KBC sees Tuesday's negative market reaction as
an opportunity to buy based on valuation, banking on the
expected 2025 improvement
    ** If losses hold, the stock will see its worst day since
August 2023
    
($1 = 0.9410 euros)

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