Report
Fiona Orford-Williams

Q1 regulatory stimulus

EQS has produced strong Q117 figures, with revenues up 49% on the prior year, boosted by the consolidation of ARIVA, with organic growth at 13%. This performance is largely attributable to demand stimulated by regulatory changes, as built into our forecasts which are unchanged on these results. The mid-2016 introduction of the European Market Abuse Regulation greatly added to the compliance burden, while the impending PRIIP regulations for packaged products provide a fertile backdrop for ARIVA. Good share price performance (and underperformance by peers) has narrowed the discount to under 10%.
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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