Netgem : Strong contraction in activity in Q1 – new group CEO – target price adjusted to € 1.2 vs € 1.4
>Q1 gross margin: -32% y-o-y to € 3.6m (vs € 4.7m est.), i.e. 55% of revenues - Netgem this morning reported its revenues and gross margin for Q1, which came in well below our forecasts. Despite a generally favourable base effect (Q1 2018 revenues: -25% y-o-y), and a SaaS transition that has now been underway for several quarters, activity showed a strong contraction at the start of the year. Q1 revenues came to € 6.6m, i.e. a y-o-y decline of 40% while the gross marg...Netgem is a provider of Internet services through television. Co.'s solution enables businesses and communities to build one-to-one Web-based relationships with their customers and members by providing access to online services. Co.'s technology operates on a Linux-based open software platform and a thin-client access device. Co.'s Netgem Solution is available for standard telephone connection at 56kbs, ISDN lines, Ethernet connection (ADSL modems) and broadband cable (DOCSIS standard) Co. offers the Netbox, which transforms every television set into an Internet-enriched television using only a standard telephone connection.
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