Netcompany, a leading IT services firm based in Copenhagen, has made a strategic entry into the OTCQX Best Market, trading under the symbol 'NTCYF.' This pivotal step is designed to broaden the company's investor base in the United States and elevate its profile within the US technology sector. Thomas Johansen, Netcompany's CFO, emphasized the importance of this move, noting that around 10% of the company's shares are currently owned by US investors, with ambitions to grow this share. The OTCQX listing is anticipated to simplify the investment process for US investors and boost Netcompany's market presence in the US.
Despite encountering hurdles in the fourth quarter of 2023, Netcompany showcased a resilient performance, marked by double-digit growth and strong cash flow. The company's expansion was largely fueled by its international operations, which saw a growth rate exceeding 20% in 2023. Although Denmark's private sector and public spending experienced a temporary slowdown last year, both areas are now demonstrating a recovery as we move into 2024.
Looking ahead, Netcompany forecasts a revenue growth of 7-10% for the current year, alongside an EBITA margin ranging between 15-18%. The company expects this growth to be widespread, spanning across Denmark, Norway, the Netherlands, the UK, Benelux, and Greece. This positive outlook is supported by a 17% increase in revenue visibility at the year's start and anticipated tenders within the European Union.
Johansen also pointed to Netcompany's attractive investment profile, underpinned by its robust organic growth, high margins, substantial free cash flow, and a steadfast dedication to delivering value to shareholders through dividends or buyback programs. By joining the OTCQX, Netcompany is strategically positioning itself to tap into the vast potential of the US technology sector, further solidifying its growth trajectory and commitment to shareholder returns.
