Westpay: As expected, Q4 was a challenging quarter

Research Note

2019-02-15

11:04

We already knew that Westpay’s Q4 would be challenging. The sales were mostly in line, but the profit was even weaker than expected, primarily due to reservations of receivables. The most positive takeaway was an improved gross margin and the newly announced HSR partnership. We have not seen a pick-up in announced orders, so we expect that Q1 will also have its challenges. Improvements during H1’19 is needed, and the company is working hard on that.

KL

EP

Kristoffer Lindström

Eddie Palmgren

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