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Netcompany: Solid order intake continues - Nordea

While Netcompany does not announce its orders, some of them can be tracked via different databases and media. During the last couple of days, the company has won at least three orders totalling more than DKK ~350m (we estimate). As the contracts are multi-year, the revenue impact will be seen in the coming years. Two of the contracts are new, and one is a renewal of an existing contract. All three contracts are in Denmark, two are with public customers and one is in the private sector. We maintain our combined DCF- and peer group-based valuation range of DKK 450-525 per share and leave our estimates unchanged.

While Netcompany does not announce its orders, some of them can be tracked via different databases and media. During the last couple of days, the company has won at least three orders totalling more than DKK ~350m (we estimate). As the contracts are multi-year, the revenue impact will be seen in the coming years. Two of the contracts are new, and one is a renewal of an existing contract. All three contracts are in Denmark, two are with public customers and one is in the private sector. We maintain our combined DCF- and peer group-based valuation range of DKK 450-525 per share and leave our estimates unchanged.
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