![IT services sector's 2024 expectations fell slightly in Q1 - revenue expected to remain flat and profitability to rise slightly](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/a1c27db3-febe-46a3-abe4-aa20c188fd13.png)
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Witted Megacorp
1.74 EUR 0%1,419 investors are following this company
Witted Megacorp is an IT company. The company offers a wide range of consulting services and IT solutions, mainly services related to project and business development. The solutions are used by a number of corporate customers in various sectors. In addition to the main business, various services are offered. The largest business operations are in the Nordic market.
P/E (24e)
22.74
EV/EBIT (adj.) (24e)
13.28
EV/S (24e)
0.35
Dividend yield-% (24e)
-
Target price
2.20 EUR
Recommendation
Accumulate
Updated
24.4.2024
First North Finland
WITTED
Daily low / high price
1.74 / 1.74
EUR
Market cap
26.91M EUR
Turnover
238.38 EUR
Volume
137
Business risk
Valuation risk
Current
Previous
Analyst
![Frans-Mikael Rostedt Frans-Mikael Rostedt](https://www.inderes.se/cdn-cgi/image/format=auto,width=128,height=128,quality=90,fit=cover/https://core.inderes.fi/sites/default/files/2023-08/Frans-Mikael_Rostedt.jpg)
Frans-Mikael Rostedt
Analyst
![Antti Luiro Antti Luiro](https://www.inderes.se/cdn-cgi/image/format=auto,width=128,height=128,quality=90,fit=cover/https://core.inderes.fi/sites/default/files/2023-08/Antti_Luiro.jpg)
Antti Luiro
Head of Nordic ER Development, Analyst
Financial calendar
Interim report
20.08.2024
Business review
22.10.2024
Major OwnersSource: Millistream Market Data AB
Owner | Capital | Votes |
---|---|---|
Fusion Ecosystem Oy | 20.4 % | 20.4 % |
Sieppi Harri Alfred | 15.1 % | 15.1 % |
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Insider Transactions
Insider | Date | Total value |
---|---|---|
Teemu Tiilikainen | 21.05.2024 | 3,001EUR |
Harri Sieppi | 21.05.2024 | 2,500EUR |
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Forum updates
Income statement
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Revenue | 15.7 | 30.0 | 52.9 | 64.1 | 54.7 | 60.2 | 64.4 | 68.3 |
growth-% | 77.7 % | 91.1 % | 76.6 % | 21.2 % | -14.6 % | 10.0 % | 7.0 % | 6.0 % |
EBITDA | 0.6 | 0.7 | -0.4 | -0.7 | 1.2 | 2.7 | 3.2 | 3.6 |
EBIT (adj.) | 0.6 | 0.7 | 0.3 | -0.2 | 1.4 | 2.6 | 3.1 | 3.6 |
EBIT | 0.6 | 0.7 | -0.6 | -1.8 | 0.2 | 1.7 | 2.1 | 2.6 |
Profit before taxes | 0.7 | 0.7 | -0.5 | -1.5 | 0.3 | 1.9 | 2.4 | 2.8 |
Net income | 0.5 | 0.6 | -0.6 | -1.6 | -0.0 | 1.3 | 1.7 | 3.1 |
EPS (adj.) | 0.04 | 0.05 | 0.01 | -0.01 | 0.08 | 0.15 | 0.17 | 0.26 |
growth-% | 43.3 % | 18.0 % | -76.2 % | -162.6 % | 91.3 % | 17.7 % | 51.4 % | |
Dividend | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Dividend ratio |
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Profitability and return on capital
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
EBITDA-% | 4.1 % | 2.5 % | -0.7 % | -1.2 % | 2.3 % | 4.5 % | 5.0 % | 5.3 % |
EBIT-% (adj.) | 4.1 % | 2.4 % | 0.5 % | -0.2 % | 2.6 % | 4.4 % | 4.8 % | 5.2 % |
EBIT-% | 4.1 % | 2.3 % | -1.2 % | -2.8 % | 0.3 % | 2.7 % | 3.3 % | 3.8 % |
ROE | 53.6 % | 31.1 % | -5.6 % | -9.8 % | -0.1 % | 8.4 % | 10.0 % | 15.9 % |
ROI | 70.3 % | 35.1 % | -5.2 % | -9.5 % | 2.9 % | 12.4 % | 14.3 % | 14.9 % |
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Valuation
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Share price (EUR) | 3.90 | 2.13 | 1.74 | 1.74 | 1.74 | 1.74 | ||
Shares | 12.5 | 12.5 | 15.4 | 15.5 | 15.5 | 15.5 | 15.5 | 15.5 |
Market cap | 60.0 | 32.9 | 26.9 | 26.9 | 26.9 | 26.9 | ||
Enterprise value | 50.7 | 25.7 | 19.0 | 16.7 | 14.1 | 10.2 | ||
EV/S | - | - | 1.0 | 0.4 | 0.3 | 0.3 | 0.2 | 0.1 |
EV/EBITDA | - | - | - | - | 15.4 | 6.2 | 4.4 | 2.8 |
EV/EBIT (adj.) | - | - | 196.7 | - | 13.3 | 6.4 | 4.5 | 2.9 |
EV/EBIT | - | - | - | - | 104.5 | 10.1 | 6.6 | 3.9 |
P/E (adj.) | - | - | 359.1 | - | 22.7 | 11.9 | 10.1 | 6.7 |
P/E | - | - | - | - | - | 20.7 | 15.8 | 8.8 |
P/B | - | - | 3.5 | 2.2 | 1.8 | 1.7 | 1.5 | 1.3 |
P/S | - | - | 1.1 | 0.5 | 0.5 | 0.4 | 0.4 | 0.4 |
Dividend yield | ||||||||
Equity ratio | 30.0 % | 27.7 % | 54.8 % | 53.1 % | 57.0 % | 56.7 % | 57.6 % | 60.2 % |
Gearing ratio | -45.2 % | -57.5 % | -53.1 % | -48.9 % | -53.2 % | -63.3 % | -71.8 % | -80.2 % |
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Quarter data
Q2/23 | Q3/23 | Q4/23 | 2023 | Q1/24 | Q2/24e | Q3/24e | Q4/24e | 2024e | |
---|---|---|---|---|---|---|---|---|---|
Revenue | 16.3 | 13.6 | 16.0 | 64.1 | 14.8 | 13.7 | 11.3 | 14.9 | 54.7 |
EBITDA | -0.4 | -0.4 | 0.2 | -0.7 | 0.1 | 0.3 | 0.2 | 0.6 | 1.2 |
EBIT | -0.7 | -0.7 | -0.0 | -1.8 | -0.1 | 0.1 | -0.1 | 0.3 | 0.2 |
Profit before taxes | -0.7 | -0.7 | 0.4 | -1.5 | -0.2 | 0.0 | -0.1 | 0.6 | 0.3 |
Net income | -0.6 | -0.8 | 0.4 | -1.6 | -0.3 | -0.0 | -0.1 | 0.4 | -0.0 |
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ShowingAll content types
![IT services sector's 2024 expectations fell slightly in Q1 - revenue expected to remain flat and profitability to rise slightly](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/a1c27db3-febe-46a3-abe4-aa20c188fd13.png)
![IT service sector Q1 summary: Revenue and profitability down from a strong comparison period, but some defensive wins in profitability as well](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/2960b8d0-2d5c-48ed-b5e4-0d1f888752df.png)
IT service sector Q1 summary: Revenue and profitability down from a strong comparison period, but some defensive wins in profitability as well
![IT service sector: Our expectations for 2024 generally at the lower end of companies' guidance](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/aefb64e2-4341-4ebe-a0d5-db91c5d85d27.png)
IT service sector: Our expectations for 2024 generally at the lower end of companies' guidance
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![Q4 IT service sector summary: Growth and profitability in line with our expectations, 2023 can be seen as a defensive win](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/49f03a03-baae-4193-851d-48056aafa15c.png)
Q4 IT service sector summary: Growth and profitability in line with our expectations, 2023 can be seen as a defensive win
IT service sector valuation levels at the bottom of our 7-year monitoring history, justifiably?
We expect the IT services sector to grow moderately and profitability to increase slightly in 2024
IT services sector Q3 summary: Better than feared with several areas continuing to perform well
![IT service sector: Fast deceleration in figures in Q2 in Finland, better in other Nordic countries](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/16c0ea89-7241-422a-83b5-10949e1d132b.png)
IT service sector: Fast deceleration in figures in Q2 in Finland, better in other Nordic countries
Witted Megacorp buys Loihde's Swedish business
IT service sector: Mainly a strong start to the year
Case: Cost structures and profitability of expert companies
IT service sector Q2 summary: Strong organic growth dimmed by profitability challenges
![IT service sector Q1 summary: Great start for the year with rest of the year looking good](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/0c8519ae-f321-452e-a561-4c35784d76e5.png)