Market Cap€768.1m

Last Close €92

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.

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Investment summary

IT services provider DATAGROUP has recovered from a difficult 2020, driven by a turnaround in its Financial IT Services (FIS) unit. The M&A-driven business model is in full force with the addition of Urano and dna in H121, and DATAGROUP’s 2022/23 target of an EBIT margin of 9% should be within reach. Trading at 24.1x FY22e P/E on consensus estimates, DATAGROUP is valued broadly in line with peers.

Content on DATAGROUP
DATAGROUP – Back on track
TMT | QuickView | 25 October 2021
Datagroup – Back on track
TMT | Update | 1 June 2021
DATAGROUP – FY21 set to breathe recovery
TMT | Update | 28 January 2021
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Share price graph
Price performance
Actual 1.9 18.4 56.2
Relative* 0.9 17.4 39.2
52-week high/low €97.0/€55.7
*% relative to local index
Key management
Max Schaber CEO