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The SaaS HCA Index, measured on a simple ARR multiple (median) across 19 listed Danish SaaS companies, stabilized at 4.6x ARR by the end of November from 4.5x ARR by the end of October. Note the index shows the development over time for the sector, using the latest reported ARR numbers for 19 companies, and almost all companies have been tracked for at least a year (the latest SaaS IPO was in December 2021). The larger and more liquid US-listed SaaS companies - measured by The SaaS Capital Index, yet there are always some comparison issues like any other benchmark data - declined to 6.3x ARR by the end of November from 6.8x ARR by the end of October.
Today, WindowMaster has updated its 2022 guidance and released its expectations for 2023 with a revenue growth rate in line with its 2025 financial target. For 2022, WindowMaster now expects revenues in the range of DKK 233-236m (previously DKK 220-235m) and EBITDA in the range of DKK 14-16m (previously DKK 13-18m). The new 2023 revenue guidance is DKK 260-270m (approx. 10-15% growth), supported by a historically high order intake. Full-year 2022 order intake is expected to be in the range of DKK 255-260m, depending on the closing of specific orders during December. WindowMaster also reports that the North American market now accounts for approx. 5% of the company’s revenue. EBITDA is expected to be in the range of DKK 23-28m in 2023, which will increase the EBITDA margin to approx. 9-10% (from approx. 6-7% in 2022 based on new guidance). WindowMaster’s 2025 financial target is an EBITDA margin of approx. 15%.
Although the Finnish tax proposal was bad news for next year's results, the sharp rise in electricity prices compensated for this and improves the outlook for the coming years.
HCA Market Close 05.12.22 – NORDEN and Hafnia gained as EU sanctions on Russia came into full effect, and Scandinavian Medical Solutions announce a new order.
HCA Market Close 02.12.22 – MT Højgaard Holding announced it has been awarded a contract to construct a Novo Nordisk production facility, while DanCann Pharma announced it received the GMP certification at its production facility Biotech Pharm1.
This Wednesday, Re-Match released its financial report for Q1-Q3 2022, where revenue (IFRS) showed a small decline compared to last year. Yesterday, we hosted an event with Re-Match's CEO Nikolaj Magne Larsen and Deputy Chairman Laurits Bach Sørensen. In the event, the main focus was on the development of key figures, the progress in the growth plan for production facilities, and how Re-Match mitigates the current challenges from the volatile energy prices.
Tegningsperioden i Audientes' fortegningsemission startede i dag. I den forbindelse afholdt vi her til eftermiddag et event, hvor Audientes' CEO Steen Thygesen gennemgik de vigtigste punkter i fortegningsemissionen, det forventede brug af ny kapital samt de nye forretningsmæssige mål for perioden 2023-2025.
In this post, we talk about how CEOs are preparing for a recession. Such preparedness easily becomes a self-fulfilling prophecy. Then there are a few shorter flashes such as inflation in the Eurozone, ballooning consumer credit and falling margin debt, which usually point to good places to buy.
Tietoevry organized a Capital Markets Day (CMD) in Stockholm yesterday, which can be watched here. The theme of the day was “Accelerating value creation”. The presentations provided insights into the company’s strategy execution, business portfolio priorities...
HCA Market Close 29.11.22 – Boozt gains on narrowing of its guidance following a strong Black Friday, Xplora announces product bundling capabilities in Spain, while Hansa Biopharma and SP Group also feature.
