Webstep reported Q2 revenues slightly below estimates, but EBITDA was stronger than expected. Some of the profitability improvement though was due to temporary effects and as such should not impact forward figures. We maintain our Hold rating until we see an improvement on headcounts, an important KPI on forward figures, where we only expect a slight increase in 2H/20. As such, we find other more interesting TMT shares in the near term.
27 Aug 2020
Q2: KPIs broadly in-line with expectations
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Q2: KPIs broadly in-line with expectations
Webstep reported Q2 revenues slightly below estimates, but EBITDA was stronger than expected. Some of the profitability improvement though was due to temporary effects and as such should not impact forward figures. We maintain our Hold rating until we see an improvement on headcounts, an important KPI on forward figures, where we only expect a slight increase in 2H/20. As such, we find other more interesting TMT shares in the near term.