AlphaValue Corporate Services
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Keyware

CR
Bloomberg   KEYW BB
Smart Cards-Security  /  Belgium  Web Site   |   Investors Relation
The soft bet is paying off
Target
Upside 112%
Price (€) 1.01
Market Cap (€M) 23.8
Perf. 1W: -0.98%
Perf. 1M: -3.81%
Perf. 3M: -3.81%
Perf Ytd: -7.34%
10 day relative perf. to stoxx600: -3.21%
20 day relative perf. to stoxx600: -0.18%
EPS change06/09/2016

Change in EPS2016 : € 0.23 vs 0.22+5.97%
2017 : € 0.27 vs 0.26+4.42%

Following the H1 results, we have upgraded our forecasts. The EPS benefit from the increase in both the top-line (massive increase in the Authorisations business) and in the bottom-line (Authorisations’ operating margin up to c.10% from 3% previously), slightly offset by the lower than expected profitability in the Terminals business (c.31% vs. 33%).



Updates

06 Sep 16 Earnings/sales releases
Solid H1 despite a relative weakness in Termin...

15 Jun 16 Initiation cov.
Initiation of coverage.

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