Report
Fiona Orford-Williams

EQS Group - Whistleblowing increasing in volume

EQS Group continues to increase in scale and ambition, extending its remit into sustainability technology alongside its existing cloud-based offerings in corporate governance and investor relations. The recent capital raise of €45m gross at €33.00 per share puts the group on a more solid financial footing as it pursues the major opportunity in whistleblowing solutions and gives Gerlin NV a 6.2% stake. Management has reiterated its medium-term target for FY25 of group revenues of €130m and EBITDA margins of at least 30%. Our forecasts indicate that this is demanding but achievable.
Underlying
EQS Group AG

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.

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
Fiona Orford-Williams

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