Two Directors at Ctac N.V. bought 8,000 shares at between 3.050EUR and 3.090EUR. The significance rating of the trade was 51/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last tw...
>A difficult start of the year - CTAC reported its Q1 2024 results this morning which came on the soft side. Revenue was € 30.6m, which is 1.3% below our estimate and declining 7.0% YoY. EBITDA came in at € 2.0m, declining 20% YoY and leading to a profitability margin of only 6.5% (vs 7.6% in Q1 2023). Margin compression was a consequence of declining productivity, whereby CTAC faced difficulties last quarter managing its bench of staffers due to shortage of IT projec...
>Croissance T2 flat à cc, légèrement inférieure aux attentes - Accenture a publié hier avant l’ouverture de la Bourse US, ses résultats T2 2024 (trimestre clos à fin février). La croissance ressort flat y/y à cc, en ligne avec le milieu de fourchette de sa guidance (-2% à 2% y/y à cc) mais légèrement en-dessous des attentes (+0.7% y/y à cc). Il s'agit d'un nouveau ralentissement par rapport au T1 2024 (+1% à cc). Ce ralentissement est notamment lié au déclin des acti...
>Q2 growth flat at cc, a shade below forecasts - Yesterday before trading started on the US market, Accenture reported its Q2 2024 earnings (quarter to end-February). Growth was flat y-o-y at constant currency, in line with the middle of the guidance range (-2% to 2% y-o-y at cc) but a shade below forecasts (+0.7% y-o-y at cc). This was a fresh slowdown relative to Q1 2024 (+1% at cc). This slowdown is due notably to the downturn in the operations activities, with a ...
>Good growth in 2023, but at lower profitability due to slowdown in large IT capex - FY 2023 was a challenging year for CTAC. Revenue grew 8.1% YoY, which is decent, however missed company initial forecast of 9-12% YoY. Reported EBITDA came in at € 10.2m, a margin of 8.0% and declining by 17.2% YoY. The reason for margin contraction is two-fold: 1) revenue mix shift, and 2) few one-off elements (€ 1.6m EBITDA impact). Consulting business was the main drag to the busin...
The start of the earnings season has halted EPS erosion, which was marked in Europe and more limited in the US. In 2024, EPS should grow twice as fast on the S&P 500 (+10%) vs the Stoxx 600 (+5%). In Europe, the fastest-growing sectors are travel & leisure, banks and industrials. - ...
L’ouverture de la saison des résultats a mis fin à l’érosion des BPA, qui était forte en Europe et plus limitée aux Etats-Unis. Les BPA devraient ainsi croître en 2024 deux fois plus vite sur le S&P 500 (+10%) que le sur le Stoxx 600 (+5%). En Europe, les secteurs ayant la meilleure dynamique sont le Travel & Leisure, les Banques et l’Industrie. - ...
>Revenue below expectation, but net profit better - CTAC came out with a mixed set of Q4 2023 results this morning. Revenue came in at € 31.7m, which is a miss to our forecast of c.10%, however still growing modestly by 2% YoY. Normalised EBITDA came bang in line with our expectation at € 3.6m, implying a 11.4% margin. On a reported basis however, EBITDA was € 2.6 (7.8% margin), and impacted by a couple of one-off elements (strategic review, provisions for sick employ...
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