Netcompany, a leading IT services firm based in Copenhagen, has taken a significant step to broaden its investor base in the United States by joining the OTCQX Best Market, trading under the ticker 'NTCYF.' This strategic decision is poised to increase the company's visibility in the lucrative US technology sector, offering US investors easier access to its shares. Thomas Johansen, Netcompany's chief financial officer, emphasized the company's goal to grow its US investor share, which currently stands at about 10% of its total shares.
The company's performance in 2023 showcased resilience and growth, with double-digit increases in revenue and strong cash flow, despite facing challenges in the fourth quarter. Notably, Netcompany's international operations were a key growth driver, achieving over 20% growth outside Denmark. While Denmark's private sector and public spending experienced a temporary slowdown last year, early indicators in 2024 suggest a rebound, further bolstering the company's optimistic outlook.
Looking ahead, Netcompany forecasts a revenue growth of 7-10% for the current year, with an EBITA margin expected to range between 15-18%. This growth is anticipated to be widespread, spanning across Denmark, Norway, the Netherlands, the UK, Benelux, and Greece. The company's confidence is supported by a 17% increase in revenue visibility at the year's start and potential tenders within the European Union.
Johansen highlighted the attributes that make Netcompany an attractive investment, including its robust organic growth, high margins, significant free cash flow, and a steadfast commitment to delivering value to shareholders through buyback programs or dividends. By listing on the OTCQX, Netcompany not only aims to tap into the vast US technology sector but also to solidify its position as a global IT services leader. For more information on Netcompany's strategic initiatives and financial performance, visit https://www.netcompany.com.
