Redeye: Slightly below expectations from Addnode Group

Addnode’s Q2 sales surpassed our expectations but on the negative side showed lower EBITA, which was negatively affected by restructuring and recruitment costs. In the reported period, the recurring revenues amounted to 53% of the net sales. This adds stability in Addnode’s sales and differentiates the company from other IT-consultants.

The acquisition activity within Process Management also continues with a high pace, with two new companies during Q2. Moreover, Addnode has extended their acquisition credit facility by SEK 350m, which we see as positive according to their growth strategy. Read more and download the new Research Update by Kristoffer Lindström and Johan Svantesson: https://goo.gl/GdSfnm

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This is a press release from Redeye - Research Powered Investment Banking. https://www.redeye.se/