Report
Richard Williamson

DATAGROUP - Back on track

IT services provider DATAGROUP has recovered from a difficult 2020, driven by a turnaround in its Financial IT Services (FIS) unit. The M&A-driven business model is in full force with the addition of Urano and dna in H121, and DATAGROUP’s 2022/23 target of an EBIT margin of 9% should be within reach. Trading at 24.1x FY22e P/E on consensus estimates, DATAGROUP is valued broadly in line with peers.
Underlying
Datagroup AG

Datagroup SE is Germany-based information technology (IT) service provider. Its service and product portfolio includes IT Consultation, which includes IT landscape transformation and IT landscape consulting; System Integration, such as mobile solutions, software development and interactive voice response language portals; Systems, Applications and Product (SAP) solutions, including SAP application lifecycle management, SAP business solutions, SAP Hana and SAP landscape transformation, as well as training and workshops. The Company offers CORBOX, a modul-based solution for IT outsourcing, including data center services, network services, end user services, application management services, SAP services, printing services, communication and collaboration services, big data services, service desk, security services, monitoring services, robotic process automation and continuity services.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Richard Williamson

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