Infopro 4Q17 - Satisfactory results but no significant deleveraging to be expected
4Q17 revenue and EBITDA were up by 34% and 42.2% to €116m and €36m respectively, boosted by the acquisitions of Cobees (November 2016), Beauteam (February 2017) and Insight (April 2017) as well as the fact that SMCL (salon des maires et des collectivités locales), Infopro’s biggest trade show, took place in November instead of June in 2016 (we estimate that 4Q17 yoy organic growth was c. 3.8%).
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