WOOD Flash – 4iG: 4Q23 results review – solid results, with 19% yoy pro-forma EBITDA growth
Yesterday (29 February), after the market closed, 4iG reported its 4Q23 results, with solid yoy expansions in sales, to HUF 173bn (up 114% yoy, 5% above our estimate), and EBITDA, to HUF 50.0bn (up by 164% yoy, 3% below our estimate), and a net loss of HUF 15.9bn (vs. -HUF 11.7bn in 4Q22 and our PLN 16.8m net loss forecast). We see the results as neutral, despite the marginal miss vs. our EBITDA forecast. We note that the company is in the middle of a business transformation, which is causing a major distortion in the quarterly financials, making forecasting more difficult.4iG Nyrt. 4iG Nyrt, formerly Freesoft Szoftverfejleszto es Szamitatechnikai Szolgaltato Nyrt is a Hungary-based company engaged in providing software products and consultancy. The Company's activities include development and implementation of specific, custom-made software systems, document management, knowledge management, portal and collaboration applications, complex services for business needs in the areas of implementation, support and consultation, intranet- and Internet-based development, services, graphical and creative design, and consultation, design, development and implementation of mobile business applications, as well as operation, support, outsourcing, application service provision (ASP), application portfolio management (APM), hosting and other services. The Company has three subsidiaries: Axis Consuling 2000 Kft, BankSoft Kft and HUMANsoft Kft.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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