Netcompany joins OTCQX, eyes expansion of US investor base
–News Direct–
Netcompany (OTCQX:NTCYF) chief financial officer Thomas Johansen joins Proactive's Stephen Gunnion with more details about the Pan-European IT services firm as it starts trading on the OTCQX Best Market under the ticker 'NTCYF.'
Johansen said the company has been listed on the Copenhagen exchange since 2018 and joined 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 US investors, with ambitions to increase this further. Trading on OTCQX is anticipated to facilitate easier investment by US investors and enhance the company's visibility in the US market.
The company reported a challenging yet strong performance for the fourth quarter of December 2023, showcasing double-digit growth and robust cash flow. This growth was predominantly driven by its operations outside Denmark, particularly noting that 45% of its business originates from Denmark, with the international sector experiencing over 20% growth in 2023. Although there was a temporary softness in Denmark's private sector and public spending in 2023, both sectors are showing signs of rebound in 2024.
For 2024, Netcompany projects revenue growth of 7-10% and an EBITA margin of 15-18%, expecting broad-based growth across Denmark, Norway, the Netherlands, the UK, Benelux, and Greece. This optimism is backed by a 17% increase in revenue visibility at the year's start and expected tenders within the European Union.
Johansen highlighted Netcompany's investment appeal through strong organic growth, high margins, significant free cash flow, and a commitment to returning value to shareholders through buyback programs or dividends.
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View source version on newsdirect.com: https://newsdirect.com/news/netcompany-joins-otcqx-eyes-expansion-of-us-investor-base-988445030
Netcompany Group A/S
COMTEX_449914503/2655/2024-03-27T09:45:09
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