Report
Daniel Thorsson ...
  • Simon Granath

Ework Group - Broad Q3 beat and still strong demand

3% sales beat and better GM drove 49% adj. EBIT beat We raise ’22e-‘24e adj. EBIT by 21-5% 11x ‘22e-‘23e EV/EBIT, ‘21-‘24e adj. EBIT CAGR of 13%
Underlying
Ework Group AB

eWork Group AB, formerly known as eWork Scandinavia AB, is a Sweden-based company engaged in the consultancy segment. Its services are provided to four business areas: information technology (IT), telecommunication, technology and business development. The Company matches consultants to assignments by offering an access to a consultant network. It offers three types of collaboration: Consultant brokerage, Consolidated consultant delivery and Outsourced consultant delivery. In addition, It provides systems, administration and management support related to the assignment. The Company collaborates with Sony Mobile Communications, Nasdaq OMX, TetraPak and Tieto. It operates in Sweden, Finland, Denmark and Norway, through its three wholly owned subsidiaries: eWork Nordic OY, eWork Danmark ApS and eWork Norge AS.

Provider
ABG Sundal Collier Sponsored
ABG Sundal Collier Sponsored

ABG Sundal Collier is the independent, Nordic investment banking powerhouse, developed over 30 years, founded on a hard working partnership culture and the ability to attract top talent.

Our strategy is to be an advisor and an intermediary, and the core product offering comprise corporate advisory services, corporate financing services and investor research and brokerage services.

Our corporate advisory team offers access to a broad financial and industrial network and unparalleled transaction experience. We provide financing to corporates through our superior Nordic and international distribution platform, and we are optimally structured for naturally matching trading flows, delivering best execution for clients.

The group employ approx. 250 staff working from the Nordic offices in Norway, Sweden and Denmark and in the offices in the key international markets US, UK and Germany. 


Analysts
Daniel Thorsson

Simon Granath

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