• Forum
  • Stock Markets
    • MarketsLive prices, indices, and market performance
    • Stock CalendarUpcoming earnings, listings, and corporate events
    • Dividends CalendarFuture and past dividends
  • Companies
    • CompaniesBrowse and filter the full list of listed companies
    • DiscoveryInspiration for your next investment
    • IPOsNew listings and upcoming public offerings
    • AGM InvitationsAnnual general meeting dates and shareholder info
  • Stock Research
    • ResearchExpert stock analysis and recommendations
    • ArticlesNews, insights, and market commentary
    • inderesTVVideo hub for stock research, analysis, and expert commentary
    • TranscriptsFull text records of earnings calls and investor meetings
    • Stock ComparisonCompare financials and performance across multiple stocks
Find us on social media
  • Inderes Forum
  • Youtube
  • Facebook
  • X (Twitter)
Get in touch
  • info@hcandersencapital.dk
  • Bredgade 23B, 2. sal
    1260 København K
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Terms of service
  • Privacy policy
  • Disclaimer

Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.

Third party research

Qlosr: The fun begins in H2'23e - ABG

Qlosr Group

This is a third party research report and does not necessarily reflect our views or values

Download report (PDF)
'23 guidance: at least SEK 600m revenue with 7% EBITDA margin
We cut '23e-'25e EBITDA by 20-7%
NTM EV/EBITA ~10x


Q2 results

Q2 revenue and EBITDA were 6% above and 23% below our estimates, respectively. On revenue, the outcome beat our expectation by 6%. The company booked higher costs due to implementation projects and a greater degree of non-subscription revenues. As we have pointed out previously, deviations on earnings may appear large in relative terms but that is due to low absolute figures and the volatile nature of the business on a quarterly basis.