Beta Systems - Positive outlook
Beta’s H118 results reflect the anticipated lull in the DCI licence renewal cycle, with EBITDA down 54% y-o-y. Despite the decrease, management believes it is on track to deliver to the top end of its guided range for the full year. With an anticipated pick-up in performance over the next two years, combined with the recent uptick in M&A activity, we feel that the FY18 EV/EBITDA premium to peers is justified.Beta Systems Software AG provides identity and access management (IAM) and data center intelligence solutions. The Company offers software products and information technology (IT) solutions. The Company is engaged in supporting financial services, production, commerce and IT services companies. The Company's IAM solutions provide combined governance and analytics applications. The Company develops identity governance and administration (IGA) solutions that address the needs of mid-sized and large companies. The Company's IAM solution dashboards enable customers with risk indicators to determine the activities, which are necessary to meet regulatory IT compliance provisions. The Company's Data Center Intelligence solutions provide data centers with tools that support IT production environment. The Company's software products automate, document and analyze IT processes in data centers and access control workflows.
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