Addnode Q1’20: Exceptional performance in Design
Redeye will likely increase its sales and EBITA forecasts somewhat for Addnode, given the exceptional performance in Design Management. Total growth (95%), organic growth (24%), and the margin level (10. 5%) all suggest that the integration of Exitech is doing very well so far. On the group level, sales and EBITA were 20% above our forecast.
Process came in as anticipated, while PLM halved its EBITA, suffering from a weak Germany. As expected, management forecasts a negative impact from the Corona crisis in Design and PLM.