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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.
Fri, 23.02.2024
SMARTBROKER Holding AG
Mixed FY23 prelims // transition year ahead; chg
Topic: Yesterday, Smartbroker Holding reported FY23 prelims that came in as
a mixed bag as well as a conservative outlook into FY24 that is underlined
by soft monthly trading stats. In detail:
FY23 sales of € 46.3m (-12% yoy) are 8% below our estimates of € 50.4m,
driven by both, weak [ … ]
Thu, 22.02.2024
INDUS Holding AG
Solid FY23 prelims // focus on strong FCF & share buyback; chg.
Topic: While prelim. FY23 sales and EBIT came in largely as expected, the
strong FCF generation of € 190m is well above expectations. On top, INDUS
announced a 4.1% share buyback at € 23.
Preliminary FY23 sales remained stable yoy at € 1.80bn (eNuW: € 1.82 [ … ]
Wed, 21.02.2024
Nynomic AG
Strong Q4 expected // 2024 to be marked by significant growth
Topic: Nynomic should report strong Q4 prelims. More importantly, FY24e
should be marked by strong sales growth and further margin improvements as
well as additional (potentially larger) acquisitions.
Q4 sales are seen to come in at € 37.6m (+14% yoy; FY23e sales +4% yoy)
than [ … ]
Tue, 20.02.2024
Flughafen Wien AG
Taking off well into the year; chg. ests.
Topic: FWAG released January traffic results last week, which came in
better than expected. Moreover, the Athens International Airport IPO gives
a read across for FWAG's valuation.
Strong start into the year: In January, the group started strongly into the
year with double digit passenger growth of 12 [ … ]
Tue, 20.02.2024
NFON AG
Recent weakness should be a clear BUYing opp.
In our view, the recent share price weakness (-23% YTD) is highly
unjustified and should rather offer an attractive entry point as we advise
investors to BUY the dip. Here is why:
Operational turnaround in full swing. As outlined in our recently published
long-note (click here), things took a turn [ … ]
Tue, 20.02.2024
Cloudberry Clean Energy ASA
Strong year end burdened by one-offs
Topic: Cloudberry released its preliminary Q4’23 figures with the annual
report expected to follow on March 20th. The operationally strong Q4
results were burdened by a NOK 57m one-off effect related to a complete
write down of its 100 MW shallow water wind project Steenkalles in
cooperation with Hafsl [ … ]
Mon, 19.02.2024
Rosenbauer International AG
Strong order momentum to fuel 2024e growth; chg. est.
Topic: Rosenbauer released solid FY23 preliminary figures, with sales
slightly below and profitability in line with the company’s guidance, which
has been increased in October. More importantly, the all-time high in order
backlog coupled with unbroken order momentum looks set to pave t [ … ]
Mon, 19.02.2024
MLP SE
Case fully intact despite PW; chg.
Topic: MLP released a profit warning and is now expecting an FY'23 EBIT of
€ 71m, thus missing the guidance of € 75-85m due to € 4m of goodwill
impairments in the real estate business.
Below market expectations: Adjusting for the impairment, the guidance range
should have been met at the lower [ … ]
Fri, 16.02.2024
R. STAHL AG
Q4 prelims: Operating turnaround intact; chg. est.
Topic: R. Stahl released solid FY23 preliminary figures, exceeding the
company’s guidance on the topline. However, Q4 profitability and order
intake were slightly weaker than expected due to a soft chemical industry
in the DACH-region.
Preliminary Q4 sales came in at € 89.9m (eNuW: [ … ]
Thu, 15.02.2024
Marley Spoon Group SE
Strategic transactions closed; est. & PT chg.
Marley Spoon Group ('MSG') closed the strategic transactions announced on
January 31st. Here is what you need to know:
Acquisition of BistroMD. MSG closed the acquisition of BistroMD, a leading
doctor-designed ready-toeat (RTE) meal plan company in the US (c. € 35m
revenues in 2023), offe [ … ]
