EQS Group - German whistleblowing law now before year end
Progress of whistleblowing legislation through the German Bundestag has been slower than hoped, with transposition now likely in December, with a three-month implementation period. This delay means that management is now guiding to FY22e revenue growth of 25%, with EBITDA of €6.0m (was €6–10m). The EBITDA figure is in line with our forecast, despite the lower revenue (€3.2m below) reflecting a degree of flexibility on costs. The underlying boost from legislation coming into force across Europe remains a strong positive from FY23. EQS reported 9M22 revenue growth of 27% (10% organic), with 702 new SaaS customers signed up, including 555 for whistleblowing.EQS Group AG, formerly known as EquityStory AG, is a Germany-based provider of regulatory technology (RegTech) in the fields of corporate compliance and investor relations. The Company's activities are divided into two operating segments: Compliance and Investor Relations. The Compliance segment comprises all products required for companies to fulfill their legal and regulatory obligations, including reporting obligations in the news segment (disclosure), submissions to the Federal Gazette (filing), and new products, such as Insider Manager, Integrity Line, LEI, and ARIVA Workflows. The and Investor Relations segment encompasses products for the areas of financial and corporate communications, including news, websites portals, webcasts and media. In addition, its products are pooled in the cloud-based software EQS COCKPIT. The Company's clients are small and medium-sized enterprises (SME), as well as corporate customers. It provides services worldwide.
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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