Simplifying HR and payroll solutions
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Edison Investment Research Limited
London, UK, 13 März 2024
Edison issues initiation on Zalaris (ZAL): Simplifying HR and payroll solutions Zalaris is a leading European provider of comprehensive payroll and HR solutions and services, covering the entire employee lifecycle. The company’s proprietary platform PeopleHub is tailored towards multinational corporations or large and complex single-country projects, the more attractive end of the business process outsourcing (BPO) market. Due to long-term relationships with customers and a low churn rate, the company has an improving financial profile with good revenue momentum as well as visibility due to a large proportion of recurring revenues in the mix. Margin initiatives are starting to bear fruit, which should drive further cash generation and returns. Zalaris should continue to grow as it renews contracts with existing customers and wins new business in geographies where it is currently underrepresented relative to the market size. Our DCF-based valuation of NOK87.1 per share reflects a conservative mid-term growth rate and EBIT margin, representing a good level of upside from the current share price. Click here to view the full report. All reports published by Edison are available to download free of charge from its website About Edison: As a content-led investor-relations business, Edison helps companies stand out and meet the right shareholders. Edison’s integrated investor relations solution combines expert analyst content, digital targeting and active investor engagement. This drives liquidity and valuations by building bigger, better informed and more engaged investor audiences globally. Edison has a proven history of increasing liquidity and valuations for its clients. Edison’s content can be viewed by all investors, anywhere in the world. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Milo Bussell +44 (0)20 3077 5700 tech@edisongroup.com Dan Ridsdale +44 (0)20 3077 5700 tech@edisongroup.com Learn more at www.edisongroup.com and connect with Edison on: LinkedIn https://www.linkedin.com/company/edison-group-/ Twitter www.twitter.com/Edison_Inv_Res YouTube http://www.youtube.com/edisonitv
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1858111 13-March-2024
