FCF TMT Market Study 2021 – published

FCF Fox Corporate Finance GmbH is pleased to publish the new “FCF TMT Market Study – 2021”..

Based on available data from European TMT companies, the FCF TMT Market Study is a detailed and comprehensive analysis of the TMT sector and especially addresses the European small/midcap market segment.

Key findings of the FCF TMT Market Study are:
  • Revenue is expected to increase by 14.6% from ’20 to ’21 after a decrease of 7.4% in ’20
  • EBITDA is expected to increase by 63.2% from ’20 to ’21 after a decrease of 18.5% in ’20
  • EBIT is expected to increase by 56.4% from ’20 to ’21 after a decrease of 24.7% in ’20
  • EBITDA margin decreased from 18.0% in ’19 to 15.8% in ’20
  • EV / EBITDA valuation increased from 13.3x in ’19 to 15.6x in ’20
  • EV / EBIT valuation increased from 20.2x in ’19 to 23.3x in ’20
  • Net leverage increased from 2.6x in ’19 to 2.7x in ’20
  • Implied Credit Rating decreased by 1 Rating-Notch from BXX+ in ’19 to BXX in ’20
  • The number of Private Equity deals increased from 668 in ’19 to 760 in ’20 and the number of M&A deals decreased from 879 in ’19 to 762 in ’20

To access the full report, please click here.

By Marcel Lange, Tristan Blümli, Marco Buonafede, Yasmin Herrmann and Maximilian Hönig.

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