Report
Robin Leclerc (IDMidCaps)

Equasens - Fundamentally a buyer, but the timing may not be the best

A disappointing Q3 with sales stagnatingThe same causes could have the same effects in Q4A drop in earnings cannot be ruled out in 2023Downgraded newsflow could weigh on the share price in the short termFundamentals that remain solid (strong market shares in a highly resilient market) and a more affordable valuation.We upgrade our opinion to Buy (vs Add)
Underlying
Pharmagest Interactive SA

Pharmagest Interactive SA is a France-based company that develops and integrates management software packages for drugstores. The Company is engaged in the computerization of pharmaceutical dispensaries. Its flagship product is Integrated Portal Management Software, which provides pharmacists with permanent and immediate access to a range of online services and is used for the distribution of information and promotions for pharmaceutical suppliers and for pharmaceutical laboratories. In addition, the Company is engaged in the provision of maintenance services, technologies to manage medication compliance, as well as e-business solutions. It operates through Noviatek, Sailendra, Multimeds, British Caremeds and Axigate, among others.

Provider
Degroof Petercam
Degroof Petercam

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Analysts
Robin Leclerc (IDMidCaps)

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