Report
Luuk Van Beek

Azelis - Strong Q3 revenues, modest beat on Adj. EBITA

Clear beat on Q3 revenues, but smaller beat on Adj. EBITDA due to lower gross margin and smaller improvement of the conversion ratioManagement guides for ‘strong' FY2022 results, despite more challenging macro conditionsWe maintain our Hold rating, TP raised from EUR 26 to EUR 28
Underlying
AZELIS GROUP NV

Provider
Degroof Petercam
Degroof Petercam

​We are an investment house with Belgian roots founded on more than 150 years of trust.

As a private company owned by long-term committed shareholders, we are independent. Naturally and structurally. Our experts have the knowledge to think and act without bias, and to make decisions that benefit our clients. Today and tomorrow.

Analysts
Luuk Van Beek

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