Visiativ: the title folds after the half-year results


(CercleFinance.com) – The Visiativ share lost more than 6% on Wednesday on the Paris Stock Exchange the day after a half-yearly publication deemed disappointing by analysts, who particularly regret the low visibility available to the company.

The digital transformation specialist reported on Tuesday evening a consolidated turnover of 110 million euros in the first half, up 20%, including +13% in organic data.

Its recurring revenue (multi-year contracts, software maintenance and software subscriptions) grew by 25%, to represent 66% of total billings.

Half-year EBITDA stood at 9.2 million euros, up 32% from one half to the next, representing a record level of profitability for a first half, with an EBITDA margin of 8 .4%, against 7.4% a year earlier.

On the occasion, Visiativ reiterated the objectives of its strategic plan, which provides for the achievement of an EBITDA of 30 million euros in 2023.

Invest Securities analysts point out, however, that the published results are ‘somewhat disappointing’, particularly in terms of profitability.

‘Above all, even if the management remains confident, the visibility remains low’, underlines the brokerage firm, which explains that the typology of Visiativ’s clients, from SMEs and ETIs, is more sensitive to economic cycles than large companies.

At Oddo BHF, which maintains its ‘outperformance’ opinion with a price target of 40 euros, it is rather a performance that is ‘generally in line with expectations’.

‘These half-year results remain satisfactory and in line with the company’s development plan, which consistently demonstrates its ability to regularly and mechanically improve its normative profitability’, underlines the private bank.

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