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Third party research

B3 Consulting Group: IT consulting market remains challenging - ABG

B3 Consulting Group

This is a third party research report and does not necessarily reflect our views or values

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We cut '24e-'26e EBITA by 21-4%...
...due to weaker IT consulting market data
'25e EV/EBITA of ~7x


What to expect in Q3'24e

We expect sales of SEK 236m for Q3'24, implying y-o-y growth of ~6% (org. -10%, M&A +15%), along with EBITA of SEK ~5m, corresponding to an EBITA margin of 2.2%. September data showed declining trends for demand, hourly prices, net recruitment and utilisation for IT consultants. This means that recovery is unlikely to start in H2'24.
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