Download PDFDecember 2020
Eastern Europe IT Services – Q3 2020
Third quarter earnings across our Eastern Europe coverage were mixed. Strong topline beats for EPAM, Endava, and Grid Dynamics were offset by lower-than-expected revenue for Asseco South Eastern Europe and Comarch.
Overall, management teams appear to be excited about opportunities in their M&A pipelines, as companies continue to move past COVID-19 induced headwinds and experience an uptick in demand. Looking ahead, Eastern European companies communicated more confidence in their forward outlook demonstrated by re-stated guidance and comments on reaching pre-COVID-19 revenue run rates.
