SEB Research: Zutec doesn’t stop surprising
Dublin, Ireland, 26 April 2021 – on the 23[rd] of April 2021, SEB published the following report following the release of fiscal Q3. For fiscal Q3, Zutec beat our expectations. The growth momentum is thus continuing, with a record 59 new agreements signed during the quarter. The recent acquisition of Createmaster redefines Zutec, more than doubling its size and strengthening the position in the UK. Our estimate revisions are largely due to including Createmaster in our numbers, which lifts our fair value per share to SEK 9-12 with a mid-point of 10.5. High growth sustained, SEK 200m