Inderes – Presentation of Q3 2023 financial results

Yesterday Inderes reported Q3 2023 results. The quarter showed growth of 23% with an EBITA margin of 18,5%. Both just shy of market expectations. 2023 guidance was maintained. Growth is primarily driven by the acquired Swedish businesses and growth in research products, while there is still pressure on project revenue outside the IR area. Thie means that recuring revenue in the quarter constituted 69% up from 65% last year. The number of customers has increased to 426 (403 at the end of the previous quarter) among others driven by IR software solutions.

Inderes continues to indicate challenging market conditions with low activity on the IPO front. This means that cost is managed prudent and international growth strategy is balanced with the current market conditions. 

Together with CEO Mikael Rautanen we today dived into the drivers of first nine-month results and took a closer look at the market outlook going forward.

Disclaimer: HC Andersen Capital receives payment from Inderes for a Digital IR/Corporate Visibility subscription agreement. Inderes and HC Andersen Capital are strategic partners, and Inderes holds 20% ownership in HC Andersen Capital. A number of HC Andersen Capital employees own shares in Inderes. /Michael Friis 15.36 AM , 1 November 2023.