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BTS Group is a strategy consultancy that works with leaders in change management and decision-making. BTS services include strategy implementation, leadership development, talent and leadership assessment, business acumen, sales organization development, coaching, and digital services. The company works globally with employees and leaders to achieve their business goals. BTS was founded in 1986 and is headquartered in Stockholm.
* Q3e: 5% organic growth and 23% EBITA growth y-o-y * Acquisition and AI deal behind 3-4% higher EBITA estimates * Share at 10.8x EV/EBITA 2027e after strong performance Sentiment is improving BTS is clearly turning around its North American business...
* We estimate 5-9% organic growth trend to continue in H2e * Guidance upgrade was needed to meet earnings estimates * EBITA -2% 2026e, +2% 2027e-28e, share at 10.8x EV/EBITA 2026e A solid Q2 report improves confidence The guidance upgrade to "significantly...
* 9% organic growth (cons 2%), adj. EBITA -5% vs cons * 2026 EBITA guidance raised to "significantly better than 2025" (cons at +25%) * Slight positive revisions expected (1-3%), good AI data points, stock up 5-8% Q2 details Sales SEK 767m (9% vs ABG...
* Adj. EBITA -3%/-2%/+1% in '26e/'27e/'28e; North America delivers * We estimate positive EBITA growth in 2026e, in line with guidance * 11.2x '26e EV/EBITA, sentiment still under pressure for consultants Improvements and setbacks in Q1 We are encouraged...
* CEO highlighted AI as a "big friend to our firm at the moment" * Anthropic customer case sounds attractive, while software clients slow * On track to deliver on FY guidance, share now at 10.2x NTM EV/EBITA More clarity on the AI opportunity We hosted...
* Sales 0% vs cons (2% organic growth), adj. EBITA +1% vs cons * North America and Europe better, Other markets (southeast Asia) weaker * FY guidance unchanged, estimates +1-3%, share +2-4% on good mix Q1 details Sales SEK 602m (2% vs ABG 590m, 0% vs...