Successful internationalisation is the decisive factor

By Inderes
After the IPO, Efecte’s progress has remained weaker than expected as the acceleration of the growth of international operations has taken more time than estimated and the benefits from the considerable growth investments have not been at the expected level. However, with the new management and clarified strategy, the company’s development is stabilising, and our opinion is that the valuation of the share is moderate considering the strong growth outlook of the SaaS business.