adesso : Final Q2 results in line with preliminary results
>Below average utilisation rate led to above average personnel expenses - adesso released its final Q2 numbers which are in line with preliminary results. Revenue increased by +16.2% y-o-y to € 314.0m, +2.4% above ODDO BHF expectations. EBITDA came in at € 9.9m, an increase of +37.8% y-o-y and below our expectations of € 14.2m. Lastly EBIT was flat y-o-y at € -6.7m and below ODDO BHF expectations of -€ 1.4m. During H1, the utilisation rate in the IT Service segment w...Adesso AG is a Germany-based information technology (IT) service provider focused on developing customized software solutions. It provides business consulting, IT consulting, software development, IT management, and solutions, including drebnis, a claims management system; inSIGHT, a data transport tool; inFOCUS 360, a direct channels to customer tool; inBOUND, a Web service for regionalization of agen-managed lottery gaming; inRELATION, a mutli-channel sales for insurers with Microsoft Dynamics CRM tool, and Mobile Rettern, a smartphone-based first-aider notification system. The Company cooperates with various IT partners and uses the Java, Microsoft and Mainframe technologies in its practice and projects. The Company is active in Germany, Austria, Switzerland, the United Kingdom, Turkey and the United States and operates a number of subsidiaries, including Adesso hosting services GmbH, Turkey Bilgi Teknolojileri Ltd, Smarthouse Media GmbH, flitcon GmbH and Born Informatik AG.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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