Hardman & Co Research
Hardman & Co Research: Momentum sustained
1Q results from Neodecortech (NDT) confirmed that the positive momentum in the second half of last year continued into 2021. Revenue was up 19% overall and EBITDA came in at €5.1m, vs. a comparable €2.7m in 1Q'20. Last year caught only the very beginning of the pandemic. 2Q has continued in a similar vein, and margins are holding up, despite rises in key raw material prices. We are not changing our forecasts materially but we are more confident that they can be reached or beaten.
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About Hardman & Co: For the past 25 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.
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