Formpipe Q3’19: License sales and EBIT below forecast – Positive outlook
The EBIT was lower than we expected due to low License sales. License sales is lumpy and a large deviation relative to forecast is not important to the case. However, also the ACV was below forecast. All in all, the report is somewhat weaker than we expected.
On the other hand, Management has a positive outlook, due to won framework agreements in Denmark and a post-election catch-up effect in Sweden. We will likely only make minor adjustments to our forecasts..