FY21 revenues were up 24% to EUR71m, above the group objective of c.20% topline growth. The strong EBITDA margin recovery is also confirmed and we expect an EBITDA of close to EUR9.2m (+175%) this year. In 2022, Prodways guides on +5% to +10% topline growth excluding MandA, which seems conservative (BNPPE +13% to EUR80m) given the buoyant underlying trends in the Healthcare segment and the very likely completion of MandA deals to take advantage of the digitization trend in the Dental and Audiolo ....
