08.06.2016 - Equity Research Einzelstudie // kaufen

Research Report (Update) – KPS AG - english

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Unternehmen: KPS AG
ISIN: DE000A1A6V48
Branche: Dienstleistungen
Rating: kaufen
Kurs bei Erstellung in €: 9,30
Kursziel in €: 9,80
Mögl. Interessenskonflikt gem. §34b Abs.1 WpHG und FinAnv: 5a;6a;7;11

In H1 2015/16, KPS AG has been able to maintain the high growth rate already shown in previous periods, growing by 20.3% to €68.83 million. €68.83 million also represented a new turnover record on a half-year basis.

A significant driver of this was the management/transformation consulting seg-ment, making up €60.26 million of the total turnover. But the products/licenses segment is also continuously increasing in importance and in H1 2015/16 at €6.64 million it made twice the contribution to turnover as in H1 2014/15. Espe-cially the increasing abroad activities contributed a large share to this pleasant development. For example, significant growth in sales was achieved in Scandi-navia and Switzerland.

Another record was achieved in H1 2015/16 with an EBIT of €10.61 million. This represented a 37.8% increase over the previous year and was clearly dis-proportionate compared to the increase in sales. The EBIT margin improved correspondingly from 13.5% to 15.4%.

In the context of the good half-year figures, the company confirmed its guidance for the whole FY 2015/16 and continues to predict sales of €140 million and an EBIT of €22 million.


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