Sidetrade: record order intake in 1st half-year

(CercleFinance.com) - Sidetrade's share price is trending upwards on Wednesday after the developer of software for managing unpaid debts announced record order intake in the first quarter.


With over 7.4 million euros in new contracts signed in the first six months of the year, an increase of 25%, the debt collection specialist claims to have generated an unprecedented level of order intake over a six-month period.

'Over and above the record order intake figure (...), it is the way in which this performance has been achieved that is encouraging for the coming quarters', stresses Olivier Novasque, CEO of Sidetrade.), it is the way in which this performance has been achieved that is encouraging for the quarters to come", emphasizes Olivier Novasque, the group's CEO.

The company's CEO points out that growth is now based on an almost perfect balance between the USA and Europe, each accounting for 45% and 55% of order intake respectively.

He also points out that its business model, consisting of offering an artificial intelligence (AI) platform dedicated to securing and generating corporate cash flow, is almost 90% based on recurring revenues.

In a reaction note, analysts at TP ICAP Midcap describe this as an "excellent" publication, with second-quarter sales slightly better than expected.

Over the first half as a whole, sales totaled 24.8 million euros, up 19%.

"The Group is maintaining its excellent sales momentum, despite a more difficult macro context, confirming that it is succeeding in capitalizing above all on its specific growth levers", emphasize the teams at TP ICAP Midcap.

For their part, Oddo BHF's teams hail 'another good quarter' and a highly satisfactory sales dynamic, leading them to reiterate their 'outperform' opinion and their price target of 215 euros.

Following this publication, Sidetrade's share price rose by 1.7%, bringing its gains since the start of the year to over 10%.

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