- (PLX AI) - Adevinta shares fell more than 6% at the open after fourth-quarter earnings missed expectations and guidance for 2022 was soft, analysts said.
- • Q4 EBITDA was EUR 124 million vs. estimate EUR 142 million, while revenue was EUR 394 million vs. estimate EUR 416 million
- • FY 2022 expectations where given in a temporarily challenging market environment, the company said, with low double-digit revenue growth in core markets
- • Also sees underlying EBITDA in the range of €575m to €600m excluding discontinued operations and €585-610m including discontinued operations
- • This implies a cut to consensus of 7-8%, since it excludes share-based compensation, analysts at SEB said
- • This was poorly communicated and raises questions on the long-term guidance: SEB
- • The CEO retiring in February next year is also surprising, Carnegie said
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