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In the Research & Ratings section, you can access assessments from renowned analyst firms that specialize in the due diligence and valuation of companies that are generally listed on the stock exchange. Starting from the research reports, you can access further research tools and information with just a few mouse clicks, which offer you additional options for obtaining and assessing information.
Wed, 24.01.2024
NFON AG
Operational turnaround in full swing – Added to Alpha List; chg.
While the company has not been on the radar of most investors due to rather
underwhelming operating performances in recent years, efficiency measures,
which have been imposed lately as well as the reorganization of the topand
C-level management are starting to bear fruit, t [ … ]
Tue, 23.01.2024
DEMIRE AG
Annual portfolio revaluation in line with expectations
Yesterday, DEMIRE published an ad-hoc following a draft valuation from
Savills. The external surveyor is currently performing the annual valuation
of DEMIRE’s investment properties as of 31 December ’23. Based on the
draft, the company currently expects that the fair value of th [ … ]
Tue, 23.01.2024
Westwing Group AG
Storytelling-based value and growth play for 2024
With its storytelling-based retail approach and inspiration-driven revenue
generation, Westwing is a unique play on the growing online penetration in
the home and living segment. The latter still stands at 25% for fashion or >35% for electronics. Its focus on
curated home furnishings along wi [ … ]
Mon, 22.01.2024
LION E-Mobility AG
A new CEO to kick off the year
Topic: LION announced to have a singed a highly qualified successor for the
current CEO, which is leaving at the end of January. Following LION‘s major
transformation last year, the company looks poised for strong growth.
At the end of November, LION announced the departure of its CEO Winfried
Buss end of [ … ]
Fri, 19.01.2024
Netfonds AG
Strategic acquisition to improve profitability; chg
Yesterday, Netfonds announced to have acquired a majority stake in “Meine
Finanzkanzlei GmbH” (“MFK”) through its fully owned subsidiary NVS Netfonds
Versicherungsservice AG. In detail:
We assume that Netfonds has acquired a stake of 65-85% (eNuW) at a low to
mid, sin [ … ]
Fri, 19.01.2024
Flughafen Wien AG
FY’24 guidance out – solid outlook for the year
Topic: FWAG released its FY ’24 guidance, indicating a solid outlook for
the year. Moreover, Dec ’23 traffic results came in slightly better than
expected.
Guidance in line with estimates: FWAG expects c. € 970m sales (eNuW: €
965m), at least € 390m EBITDA [ … ]
Thu, 18.01.2024
MAX Automation SE
MAX lays the foundation for outperformance in 2024
Topic: MAX Automation has another promising year in front of it. We expect
the company to grow its topline by 7% in 2024e while sustaining last year’s
profitability (eNuW).
Topline growth ahead: With several structural trends kicking in, MAX should
be able to grow its revenue in the cur [ … ]
Wed, 17.01.2024
THE NAGA GROUP AG
Strong FY23 prelims and merger with Capex.com; chg
Last week, NAGA reported preliminary FY23 figures that came stronger than
expected. Further, the company has announced (at the end of 2023) a planned
business combination with Capex.com. In detail:
- Sales came in at € 45.5m (-21% yoy), significantly above our estimates of
€ 38.1m. [ … ]
Wed, 17.01.2024
INDUS Holding AG
Another promising year for INDUS
Topic: While INDUS should experience some margin pressure in 2024e, the
EBIT margin is still seen to come in at 8.0%, which is the highest
operating margin since 2017. With an appealing dividend yield of 5.5%
(eNuW) and an attractive valuation of only 4.6x EV/EBITDA, the stock
remains a buy.
Normalizing margin [ … ]
Tue, 16.01.2024
DEMIRE AG
LogPark finally sold + letting success to start crucial 2024
After the disposal of the LogPark in Leipzig to CommerzReal initially fell
through in July 2023, DEMIRE has now found a new buyer, namely HIH Invest
Real Estate. We estimate the purchase price, which was not disclosed, to be
in the range of € 100-105m, hence being some 15% below [ … ]