Edison Investment Research - SNP Schneider-Neureither Partner (SHF) Update: Q1 organic revenue growth was 18%

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Edison Investment Research

Update: Q1 organic revenue growth was 18%

SNP posted a strong set of Q1 numbers with organic revenue growth of 18%, driven by healthy global demand for ERP transformation projects. Activity has been very busy, with consultant utilisation remaining high, and the group has a strong pipeline of new business. Given the confident outlook, we have moved up our revenue forecasts. However, near-term profits edge back due to the increased costs going into the business. Nevertheless, our DCF valuation moves 11% higher, and SNPâ€™s investment case looks attractive given the groupâ€™s distinctive competitive position as an independent specialist in the ERP transformation market.

12/05/2015 8 EN

Underlying

SNP Schneider-Neureither & Partner

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Germany

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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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Update: Q1 organic revenue growth was 18%

SNP Schneider-Neureither & Partner - New $4.5m contract win in North America

SNP Schneider-Neureither & Partner - Focusing on organic growth

Update: Raising â‚¬29m (net) funds for growth

Manx Financial Group - Termination of coverage

musicMagpie - Termination of coverage

Topps Tiles - Accelerating growth through Q125

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