(News Bulletin 247) – Wavestone lowered its annual operating margin forecast on Thursday in a market environment deemed ‘less buoyant’ because marked by more wait-and-see attitude on the part of clients.
The consulting firm says it is therefore integrating a dose of ‘caution’ into its profitability target for the 2022/23 financial year, which will end at the end of March, now aiming for an annual current operating margin of around 14.5%, against 15% initially.
The market reacted negatively to this announcement, the title thus losing more than 10% at the approach of midday, which does not prevent it from posting another nearly 5% increase since the start of the year.
In his press release, the specialist in business transformation explains that his activity has not been dynamic enough to enable him to absorb the many arrivals of new employees in an optimal way.
As a reminder, the firm recruited at a particularly sustained pace throughout the year and plans to significantly exceed its annual plan of 1,000 gross recruitments.
As a result, the activity rate for the 4th quarter of 2022/23 (period from January to March 2023) should thus be down compared to the first nine months of the financial year, i.e. 74%.
The objective of a consolidated annual turnover of more than 525 million euros, taking into account the consolidation of PEN Partnership and Coeus Consulting, is confirmed.
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