(NewsDirect)
Netcompany (OTCQX:NTCYF) chief financialofficer Thomas Johansen joins Proactive's Stephen Gunnion withmore details about the Pan-European IT services firm as it startstrading on the OTCQX Best Market under the ticker'NTCYF.'
Johansen said thecompany has been listed on the Copenhagen exchange since 2018 andjoined the OTCQX to broaden its shareholder base in the US,acknowledging the significance of the IT and technology sector there.Currently, approximately 10% of Netcompany's shares are held by USinvestors, with ambitions to increase this further. Trading on OTCQXis anticipated to facilitate easier investment by US investors andenhance the company's visibility in the US market.
The company reported a challenging yetstrong performance for the fourth quarter of December 2023, showcasingdouble-digit growth and robust cash flow. This growth waspredominantly driven by its operations outside Denmark, particularlynoting that 45% of its business originates from Denmark, with theinternational sector experiencing over 20% growth in 2023. Althoughthere was a temporary softness in Denmark's private sector andpublic spending in 2023, both sectors are showing signs of rebound in2024.
For 2024, Netcompany projectsrevenue growth of 7-10% and an EBITA margin of 15-18%, expectingbroad-based growth across Denmark, Norway, the Netherlands, the UK,Benelux, and Greece. This optimism is backed by a 17% increase inrevenue visibility at the year's start and expected tenders withinthe European Union.
Johansen highlighted Netcompany'sinvestment appeal through strong organic growth, high margins,significant free cash flow, and a commitment to returning value toshareholders through buyback programs or dividends.
ContactDetails
Proactive North America
ProactiveNorth America
+1 604-688-8158
NA-editorial@proactiveinvestors.com
Copyright (c) 2024 TheNewswire - All rights reserved.