Netcompany, a Copenhagen-based IT services company, has recently joined the OTCQX Best Market, trading under the ticker ‘NTCYF.’ This move aims to expand the company’s investor base in the United States and increase its visibility in the significant US technology sector.
Thomas Johansen, Netcompany’s chief financial officer, shared insights on this strategic decision. Currently, approximately 10% of the company’s shares are held by US investors, and Netcompany is keen to increase this figure. Trading on the OTCQX is expected to facilitate easier investment by US investors and enhance the company’s visibility in the US market.
Despite facing challenges in the fourth quarter of 2023, Netcompany reported a strong performance with double-digit growth and robust cash flow. The company’s growth was primarily driven by its operations outside Denmark, with the international sector experiencing over 20% growth in 2023. While there was a temporary softness in Denmark’s private sector and public spending last year, both sectors are showing signs of rebound in 2024.
For the current year, Netcompany projects revenue growth of 7-10% and an EBITA margin of 15-18%. The company anticipates broad-based growth across Denmark, Norway, the Netherlands, the UK, Benelux, and Greece. This optimism is backed by a 17% increase in revenue visibility at the start of the year and expected tenders within the European Union.
Johansen highlighted Netcompany’s investment appeal, citing its strong organic growth, high margins, significant free cash flow, and commitment to returning value to shareholders through buyback programs or dividends. The company’s decision to join the OTCQX aims to expand its US investor base, capitalizing on the significant technology sector in the United States.
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