BTS also raised its 2021 guidance that EBITA will be “better than in 2019” vs previous “in line with 2019”, despite strong currency headwinds. We are currently at a 2021 EBITA -1% vs 2019. The pandemic made all physical meetings and deliveries impossible and BTS has now turned the business into digital and virtual deliveries of its management consulting services. The comeback is impressive, and it is now back to margins above those before the pandemic. We expect the share to outperform the market today. Conf call at CET 9.30.
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