1Spatial continues to make good progress on its transition plan. The final months of FY19 saw further large contract wins and growth accelerate. This was achieved despite the uncertainty created by the US government shutdown. Adjusted EBITDA ‘at least in line’ with market expectations suggests a minimum of £1.1m, over 12% ahead of our estimate, but we leave our forecasts unchanged for now. Executing the plan offers scope for a re-rating and further upgrades, in our view.
07 Mar 2019
1Spatial - Transition on track, EBITDA ‘at least in line’
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1Spatial - Transition on track, EBITDA ‘at least in line’
1Spatial Plc (SPA:LON) | 61.5 1.5 4.2% | Mkt Cap: 68.2m
- Published:
07 Mar 2019 -
Author:
Dan Gardiner -
Pages:
3
1Spatial continues to make good progress on its transition plan. The final months of FY19 saw further large contract wins and growth accelerate. This was achieved despite the uncertainty created by the US government shutdown. Adjusted EBITDA ‘at least in line’ with market expectations suggests a minimum of £1.1m, over 12% ahead of our estimate, but we leave our forecasts unchanged for now. Executing the plan offers scope for a re-rating and further upgrades, in our view.