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Siili Solutions Q3: Organic growth of 20% above our estimate, EBITA in line - SEB

Siili continued to deliver sales above our forecast in Q3. The organic growth accelerated to 20%, while we had input 14% organic growth. EBITA hit our estimate, implying that the margin was somewhat weaker than expected. Looking ahead, we note that headcount is up 15% y/y which is in line with our growth estimate for Q4. With this we find that the company could well increase its guidance, which was still unchanged, towards the year end.

Siili continued to deliver sales above our forecast in Q3. The organic growth accelerated to 20%, while we had input 14% organic growth. EBITA hit our estimate, implying that the margin was somewhat weaker than expected. Looking ahead, we note that headcount is up 15% y/y which is in line with our growth estimate for Q4. With this we find that the company could well increase its guidance, which was still unchanged, towards the year end.
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