In Q2 15, revenues increased 4.9% to €205.6m (estimates €201.5m) and declined 3% at constant currency. Gross profit increased 13.9% (at cc +3%) to €151.6m. The gross margin improved from 67.9% to 73.7%. EBITDA jumped 24.5% to €44.9m and the EBITDA margin from 18.4% to 21.8%. Also EBIT increased substantially by 41% to €31.9m (marginally above consensus estimates of €31.7m). We expected EBIT to reach €22.6m. The EBIT margin increased from 11.5% to 15.5%. Tota

23 Jul 2015
Do not get to excited

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Do not get to excited
- Published:
23 Jul 2015 -
Author:
Heinz Steffen -
Pages:
2 -
In Q2 15, revenues increased 4.9% to €205.6m (estimates €201.5m) and declined 3% at constant currency. Gross profit increased 13.9% (at cc +3%) to €151.6m. The gross margin improved from 67.9% to 73.7%. EBITDA jumped 24.5% to €44.9m and the EBITDA margin from 18.4% to 21.8%. Also EBIT increased substantially by 41% to €31.9m (marginally above consensus estimates of €31.7m). We expected EBIT to reach €22.6m. The EBIT margin increased from 11.5% to 15.5%. Tota