Degroof Petercam - Neurones SA (NRO) Neurones - Another good Q4 confirms excellent track record

Report

Degroof Petercam

Pierre Dinet (IDMidCaps)

Neurones - Another good Q4 confirms excellent track record

Once again, the Group does not disappoint and (modestly) exceeds its guidance for the 5th consecutive yearEBIT Margin still in 2 digits in 2023, among the best in the sectorValuation reflects the Group's excellent fundamentalsThe most solid IT services provider in terms of track record and balance sheet. The upside is now a little more limited, but does not include a control premium as the sector consolidates and the founder's succession is not yet fully finalized.

20/02/2024 1 EN

Underlying

Neurones SA

Neurones. Neurones SA is a France-based company, which provides information technology (IT) services. It operates within three areas: consulting, integration of technological solutions and outsourcing of information systems. The business lines are organized into three centers: Infrastructures Business, Consulting Business and Applications Business. Within the Infrastructures area, the Company provides design, integration and operation of system and networks, service desk, production engineering services, as well as remote servers and application operations and asset management consulting. As per the Applications business line, Neurones SA offers analysis, expertise and software development as well as support and third-party application maintenance. Consulting business line provides development, maintenance of applications, trainings, among others. The Company operates through several subsidiaries, including Axones SAS, Arondor, AS Delivery, AS International and Edugroupe.

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FR0004050250 Euronext Paris France

Provider

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.

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Analysts

Pierre Dinet (IDMidCaps)

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Neurones - Another good Q4 confirms excellent track record

NEURONES : Mise à disposition du Document d’Enregistrement Universel 2023

Neurones - The best performance in the sector in 2023

NEURONES: Net profit (group share) up 11.5% in 2023

Shurgard - Q1 2024 - A start to 2024

GBL - Q1 24: NAV +2% and stable dividend guided

Ontex - A strong start to the year

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