Innofactor: Steady good work in a challenging market
In a challenging market, Innofactor continued to perform well in Q1 in terms of growth and profitability. However, new sales in this market are challenging and the order book has declined. We forecast moderate organic growth in the coming years and a slight improvement in profitability. The valuation of the stock is quite attractive with our forecasts (2024e P/E 10x and EV/EBIT 8x), but the challenging market curbs the strongest willingness to buy.
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Innofactor
Innofactor operates in the IT sector. The company is focused on offering services in digitization and cloud-based solutions. Examples of business areas include sales, marketing and communication, business intelligence, and CRM (Customer Relationship Management). The largest presence is found in the Nordic market and customers consist of small and medium-sized corporate customers. The head office is located in Espoo.
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