GBC AG: Cogia AG | Rating: BUY
Original-Research: Cogia AG - von GBC AG
Einstufung von GBC AG zu Cogia AG
Unternehmen: Cogia AG
ISIN: DE000A3H2226
Anlass der Studie: Research Comment
Empfehlung: BUY
Kursziel: 3.72 EUR
Kursziel auf Sicht von: 31.12.2022
Letzte Ratingänderung: -
Analyst: Matthias Greiffenberger; Felix Haugg
Preliminary results significantly above forecast, price target confirmed
On January 21, 2022, Cogia AG published its preliminary figures for the 2021 financial year and the figures presented exceed the GBC analysts' forecasts. A total output of EUR 1.7 million was achieved in the group, which corresponds to almost a threefold increase (previous year: EUR 0.59 million). elastic.io, which was acquired in September, made a corresponding contribution to the total operating performance. According to management, the integration was very successful and the results are in line with the planning.
EBITDA amounted to approx. EUR 0.26 million with an EBITDA margin of approx. 21%. Thus, in our opinion, sales should be around EUR 1.24 million.
Consequently, the company was well above our forecasts of EUR 1.05 million in revenue (preliminary figures approx. EUR 1.24 million) and EBITDA of EUR 0.07 million (preliminary figures EUR 0.26 million). The EBITDA margin was also significantly above our expectations (previous figures 21%).
The dynamic growth strategy was confirmed, with the aim of continuing to grow both organically and inorganically. Financing is to be provided by equity and debt capital. A revaluation on the part of GBC will take place with the publication of the annual report. The presented figures show that the high growth rate can be achieved with a good EBITDA margin.
We confirm our price target of EUR 3.72 until the publication of the annual report and continue to assign a Buy rating against the background of the very high upside potential.
Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/23319.pdf
Kontakt für Rückfragen
GBC AG
Halderstraße 27
86150 Augsburg
0821 / 241133 0
research@gbc-ag.de
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Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter:
http://www.gbc-ag.de/de/Offenlegung
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Time of completion: 01.02.2022 14:00
Time of publication: 02.02.2022 10:00
Validity of the target price: until max. 31.12.2022
-------------------übermittelt durch die EQS Group AG.-------------------
Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.
