Q4 sales missed the lowest estimate, but the company registered an over-proportional increase in profitability in the last quarter. Indeed, Q4 recurring EBITDA was in line with expectations. Overall, we believe that the key financial indicators are in line with the market expectations. Hence, we expect to keep our recommendation unchanged.
07 Mar 2019
FY18: 2019 should be fundamentally a better year
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FY18: 2019 should be fundamentally a better year
Q4 sales missed the lowest estimate, but the company registered an over-proportional increase in profitability in the last quarter. Indeed, Q4 recurring EBITDA was in line with expectations. Overall, we believe that the key financial indicators are in line with the market expectations. Hence, we expect to keep our recommendation unchanged.