DATAGROUP

DB: D6H

Market Cap€652m

Last Close €78.1

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

After a difficult FY20, IT services provider DATAGROUP’s earnings recovered in H121, driven by a turnaround in its Financial IT Services (FIS) unit, which took a hit in FY20. The M&A-driven business model is intact, with the addition of Urano and dna in H121, and DATAGROUP’s target of an EBIT margin of 9% should be within reach in the medium term (2022/23). Trading at 24.3x FY22e P/E on consensus estimates, DATAGROUP is valued at an 11% premium to peers.

Content on DATAGROUP
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
%
1m
3m
12m
Actual 7.0 28.0 76.5
Relative* 4.3 25.5 44.8
52-week high/low €81.8/€38.9
*% relative to local index
Key management
Max Schaber CEO