WOOD Flash – Sphera Group: 4Q23 above our expectations
Yesterday (29 February), Sphera reported its historically-best quarterly sales, EBITDA and earnings for 4Q23. As the low base of the pandemic effect is over, the top-line growth decelerated to 7% yoy, 3% below our expectations. However, the company managed to keep the cost growth at bay, driving adjusted EBITDA and adjusted earnings growth of 20% and 29%, 8% and 45% above our expectations. Effectively, Sphera has missed its FY23 EBITDA guidance by only 9%. No FY24E guidance has been published, at this stage. 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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