DATAGROUP

DB: D6H

€300.2m market cap

€35.95 last close

DATAGROUP is a full IT outsourcing provider, focused on the German Mittelstand market. The company offers the full range of IT services on a modular basis, through its CORBOX “cloud-enabling platform”. Services include service desk, end-user services, data centre services, application management and SAP services.

Investment summary

DATAGROUP recorded another strong year of growth with revenue increasing by 22%, including 3.3% organic growth, or 6% when adjusting for discontinued activities from acquisitions. The recent acquisitions of ikb Data, HanseCom and ALMATO all performed well. During the year the group won its largest ever contract worth high double-digit million euros. This deal, with NRW Bank, was only attainable due to the ikb Data acquisition. With the shares having drifted back c 25% over the last year the rating looks increasingly attractive at c 8x EBITDA.

Sector
TMT
Share price graph
Price performance
%
1m
3m
12m
Actual 12.5 13.1 (20.6)
Relative* 10.6 9.7 (13.1)
52-week high/low €45.1/€29.0
*% relative to local index
Key management
Max Schaber CEO