WOOD Flash – Sphera Group: 2024 budget above our expectations
Sphera Group has published its FY24 budget, which is, generally, above our expectations. The company expects EBITDA and earnings growth of 28% yoy and 20% yoy, respectively. Effectively, Sphera’ budget come 22% and 13% ahead of our forecasts, respectively. On the budget numbers, Sphera is trading at a 2024E P/E of 11.4x and EV/EBITDA of 5.8x, 9% below and 13% above AmRest. We expect a positive market reaction.
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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