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Edison Investment Research

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Leading International Investment Research, Edison Investment Research

Equity Bottom-Up

<p>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.
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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.


Datagroup SE

DATAGROUP - Back on track