Press Releases

Milan, 17 November 2020. DHH S.p.A. (“DHH”) (DHH.MI | WDHH21.MI) (ISIN shares IT0005203622 | ISIN warrants IT0005203689), the cloud computing provider of Southeast Europe, announces that Value Track, independent financial analysis boutique led by Marco Greco, published an update flash note on the company.

Value Track highlights that DHH business is steadily increasing high single-digit, notwithstanding negative market stance linked to the ongoing pandemic.

Pro-forma Gross Sales in 3Q20 came in at €4,3mn, with positive results recorded across all geographies where the Group is currently active: the Slovenian market recorded the largest Gross Sales increase (+26% y/y), while Croatia and Serbia kept growing mid-single digit, strengthening their leading market shares. A good performance was also achieved in the domestic market, nevertheless the gradual rearrangement plan of commercial brand Artera on behalf of the Swiss subsidiary, which recorded a sound >50% y/y Gross Sales increase.

Value Track confirms its valuation of DHH fair value to €18,5 per share, that compares to current €11,0 market price.

The flash note is available on the website of DHH, in the related section:
https://www.dhh.international/equity-research

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