Eurowag admitted to FTSE250 following Frasers’ comeback to FTSE100
Eurowag was admitted today to the FTSE250 Index after Sports Direct’s owner Frasers made a comeback to FTSE100.
“Having listed on the London Stock Exchange in October 2021, the inclusion in the FTSE 250 Index further highlights Eurowag’s credentials as a public company,”said Martin Vohanka, chief executive of the Czech tech platform, on Tuesday.
“With our industry leading integrated platform, scale, and strong financial profile, we are well positioned to build on these foundations and deliver further attractive growth over the medium term.”
Founded in its current capacity in 2005, Eurowag provides tech solutions to the trucking industry, allowing companies to optimise different business aspects – including financial and tax services.
When it floated, Eurowag’s valuation was over £1bn, with shares at 150p.
The company last week posted a profit before tax of €13.4m (£11.5m) while its adjusted EBITDA went up to €35m.
“We’re proud of the results, especially if you consider the volatile environment in which the whole of Europe is in right now,” Vohanka told City PM on 6 September.
“Customers need energy payments, they need to manage their operations, they need to keep in contact with partners, and this is everything Eurowag is doing.”