BTS Group: Keeps delivering on promises - ABG - Börskollen
Börskollen - Aktier, fonder och ekonominyheter

Börskollen

För dig med koll på börsen

Aktieanalys

BTS Group: Keeps delivering on promises - ABG

{newsItem.title}

Europe recovered and FY guidance kept
EBITA cut 2-4%, eyes starting to shift to 2025e
Higher organic growth and potentially more M&A ahead


Q3 more or less as guided, and FY guidance kept

BTS delivered a Q3 report as guided for in Q2, with improvements in Europe, although there was a slight setback in momentum in North America and some weakness in Spain and Italy (part of the Other Markets segment). EBITA of SEK 60m was 9% below our estimate of SEK 66m, which is a relatively small deviation, also given that the FY guidance of “2024 EBITA better than 2023” was reiterated. We expect the North American market to remain slow in Q4, while Europe and Other Markets perform relatively well, resulting in FY EBITA growth of 5% vs 2023, in line with guidance. Q3 net income and EPS were positively affected by a SEK 166m earn-out reversal from the Netmind acquisition which did not meet the 3-year performance plan to be paid out. Adjusting for this, we estimate BTS to grow adj. EPS by 1% and we therefore also raise 2024e DPS by 4% to SEK 5.90 (5.70), which would be yet another year of raised DPS.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/bts-group/Equity-research/2024/11/bts-group---keeps-delivering-on-promises/

Nyheter om BTS Group

Läses av andra just nu

Innehåller annonslänkar. Investeringar innebär risk (se här)

Tips: 50% rabatt hos fondroboten Opti

Dags att komma igång med sparande? Fondroboten Opti erbjuder en populär spartjänst som är perfekt för regelbundet månadssparande. Just nu får nya kunder som använder Börskollens unika kampanjkod BORSKOLLEN50 automatiskt 50 % rabatt på Optis avgift i 3 månader!

STÄNG X
Populär sparapp – över 500 000 nedladdningar
Många och höga externa omdömen
Högst grad av diversifiering
Perfekt för regelbundet månadssparande
KOM IGÅNG

Nya kunder som använder Börskollens unika kampanjkod BORSKOLLEN50 får automatiskt 50 procent rabatt på Optis avgift i 3 månader

Om aktien BTS Group

Senaste nytt