Sword rises on the stock market, driven by strong financial performance in 2021


The digital services company did better than expected by the market last year and is confident for 2022.

Sword rises on the stock market, driven by strong financial performance in 2021 |  Photo credit: Shutterstocks

Sword rises on the stock market, driven by strong financial performance in 2021 | Photo credit: Shutterstocks

A prosperous Wednesday for Sword. The evening before, the digital services company lifted the lid on its 2021 financial results and announced that its revenue growth had jumped 21.5% on an organic basis, to 214.6 million. euros, which is more than expected by the market. In the fourth quarter alone, the increase was 21.9% organically, and 31.8% including AiM in Switzerland. ” The performance is remarkable, in line with the trends of the last nine months when the basis was more demanding, and leads to an acceleration of underlying growth of 38% compared to the fourth quarter of 2019 “, greets the analyst of Oddo BHF in charge of the value. The news delights the Stock Exchange, the price of Sword climbing almost 6%.

twice as much as the market

Better still, the growth in activity was accompanied by an improvement in profitability. The Ebitda margin (gross operating surplus) reached 15% in the last quarter, a particularly high level. Over the year, it was 13.6%. On the balance sheet side, there is no disappointment either: the group announces a net cash position ex-IFRS 16 of 55 million euros at the end of December, against 43 million at the end of September. For 2022, management is very confident in its ability to outperform, and is already targeting organic growth of 15%, two points higher than the 2025 plan. And more than twice the growth of the market. . Turnover ” is partly secured by the strong increase in the order book to 501.1 million euros, i.e. 24 months of activity, calculates the Oddo BHF analyst, adding that ” in this configuration, the Ebitda margin should remain close to 13%. »


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