Redeye updates its estimates and valuation following Vitec’s Q4 2023 report, featuring solid top-line growth but softer-than-expected margins. We positively view recurring revenue growth of c35% y/y (c10% FX-neutral organic growth) in Q4. Notable negatives include fourth-quarter EBITA and EBIT margins coming in c3%-points below our estimates. We judge Vitec’s long-term prospects as unchanged and finetune our estimates and valuation.

Engelska:
Read more and download the Research Update.
 
Follow companies at Redeye to receive the latest equity research within Life Science and Technology.
 
This is a press release from Redeye - Research Powered Investment Banking. www.redeye.se/

Attachments

Vitec Q4 2023 - Solid growth y/y but slightly soft margins

© Modular Finance, source Nordic Press Releases