Netcompany: CMD; Bullish management and platforms move up in importance - Nordea

Netcompany hosted its CMD on 5 April 2022 in Copenhagen. No new medium- or long-term targets were announced, but management appeared rather bullish about future potential, including the Danish business, where it sees ample untapped growth possibilities. Management also focused on the potential from platforms, which are set to have a growing importance for M&A and as a growth driver across the different markets. Netcompany Intrasoft was also in focus at the CMD – the division’s CEO gave a good impression and contributed to a better (and highly needed) understanding of that business. The CMD left us with the impression of a bullish management, as always, supported by the business opportunities that should arise from growing investment momentum within digitalisation across Europe. No larger acquisitions should be expected in 2022 and no new hard targets or medium- or long-term ambitions were announced, henc e the equity story for now is closely linked to management’s vision and execution ability.