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Inderes Group - April sales up 33%, beats our estimate by 10% - SEB

By SEB
Inderes
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Inderes delivered solid monthly sales data for April. The sales in April were up 33% y/y (driven by the timing of Easter) while we had input an increase of 20%. We conclude that we had underestimated the overall AGM season sales. Also, the company flags growth in event business as well as IR software. Although the delta seen in April cannot be extrapolated to the coming months' estimates we note that our Q2 sales estimate looks a bit shy after the beat in April.

Inderes operates in the financial industry. The company provides a community platform for investors and listed companies. Via the platform, users can communicate with each other and exchange investment tips. The customers consist of both companies and private individuals. In addition, the company offers analysis services and a basis for investment decisions. The largest operations are in the Nordic region.

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