FARNER CONSULTING AG (:EQS) EQS Group (EQS): FY21 focus on whistleblowing
Transparency directive : regulatory news
|
Edison Investment Research Limited
London, UK, 27 May 2021
EQS Group (EQS): FY21 focus on whistleblowing EQS is making good progress on building a substantial presence in both corporate compliance and investor relations, growing its SaaS and annual recurring revenue streams. With a platform approach that allows for cross- and up-selling, this is a scalable business model in growing markets, driven by digitisation and regulation. The implementation of whistleblowing regulation in the EU during 2021 gives a clear opportunity for the group to extend its client base. The cost of grasping that opening is weighing on short-term profitability but enhances medium-term prospects.
5% share placings in Q420 at €26 and Q121 at €38 mopped up excess demand for the stock and the share price is 22% off its February pre-placing high. On EV/Sales, averaged over FY20-22e, the valuation is still at a discount of around 53% to larger financial software peers, while earnings multiples are distorted in this investment phase. Application software peers trade on similar FY21e and FY22e EV/Sales.
All reports published by Edison are available to download free of charge from its website About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Fiona Orford-Williams +44 (0)20 3077 5739 media@edisongroup.com Learn more at www.edisongroup.com and connect with Edison on: LinkedIn www.linkedin.com/company/edison-group-/ Twitter www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv
Dissemination of a CORPORATE NEWS, transmitted by EQS Group. |
1201056 27-May-2021