We lower '23e-'25e adj. EBITA by 11-10%. Likely to be more cautious on net recruitment. '23e EV/EBITA of ~9x.
24 Jul 2023
Margins holding up better than peers so far
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Margins holding up better than peers so far
- Published:
24 Jul 2023 -
Author:
Nikola Kalanoski | ABGSC IT Research | Daniel Thorsson -
Pages:
9 -
We lower '23e-'25e adj. EBITA by 11-10%. Likely to be more cautious on net recruitment. '23e EV/EBITA of ~9x.