Results were up considerably in H1 2021 YoY, above our expectations
Salcef posted a strong set of results in H1 2021 YoY, above our estimates: revenues were up by around 42% YoY, EBITDA +32%, EBIT +33%, adj. net profit +61%. The main drivers were: the perimeter change (ca. EUR 23m contribution in terms of revenues); sound growth on a like-for-like basis, ca. 15% YoY; a reduction in margins due to the higher incidence of international activities, which are characterised by lower margins vs. dome ....
06 Aug 2021
Organic growth, high visibility, MandA play
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Organic growth, high visibility, MandA play
Results were up considerably in H1 2021 YoY, above our expectations
Salcef posted a strong set of results in H1 2021 YoY, above our estimates: revenues were up by around 42% YoY, EBITDA +32%, EBIT +33%, adj. net profit +61%. The main drivers were: the perimeter change (ca. EUR 23m contribution in terms of revenues); sound growth on a like-for-like basis, ca. 15% YoY; a reduction in margins due to the higher incidence of international activities, which are characterised by lower margins vs. dome ....