Penneo (One-pager): Continued momentum in Belgium and first KYC customer announced in Germany
Penneo reported its H1 2024 results this Wednesday, reaffirming its full-year 2024 guidance. ARR grew by 21% YoY in H1 2024, driven particularly by continued momentum in Belgium. Penneo also improved its EBITDA, aligning with the company's 2024 guidance of achieving a positive EBITDA of DKK 5-10 million.
We have updated our investment case one-pager after the results and recent news, including an updated overview of the peer group of selected listed Danish SaaS companies. Besides valuation perspectives, the investment case one-pager introduces Penneo and highlights key investment reasons and risks.
You can also watch the H1 2024 presentation with Penneo's CEO Christian Stendevad and CFO Casper Christiansen (in Danish) here: https://www.inderes.dk/videos/penneo-praesentation-af-h1-2024
Disclaimer: HC Andersen Capital receives payment from Penneo for a Digital IR/Corporate Visibility subscription agreement./ Kasper Lihn 15:00, 30 August 2024.
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Penneo
Penneo är verksamt inom IT-sektorn. Bolaget är specialiserat inom produktutveckling som berör digital signering. Tjänsterna används exempelvis för signering av dokument och handlingar, samt för intern uppföljning inom diverse företag. Produkterna används av små- och medelstora företagskunder, huvudsakligen verksamma runtom den europeiska marknaden. Huvudkontoret ligger i Köpenhamn.
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