Model update
We reiterate our Neutral rating and have updated our model from Q1 2023 results and new FY 2023 company guidance communicated in April. Materialise expects 2023 revenues up close to the high-end of previously communicated company guidance (+10-12% to EUR255-260m) and adj. EBITDA up to 10% above pre
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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