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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.
Mon, 18.03.2024
Borussia Dortmund GmbH & Co KGaA
RS feedback: New formats offering upside / chg.
Last week, we hosted a digital roadshow with BVB CFO Thomas Treß, which
underpinned our view that the club is set to benefit from several
structural changes going forward. The main takeaways:
Bundesliga broadcasting rights: In Q2, the German Football League (DFL) is
starting to market the [ … ]
Fri, 15.03.2024
INDUS Holding AG
Bolt-on acquisitions into global megatrends; chg.
Topic: INDUS successfully completed the share repurchase program announced
on February 21st. Further, the German conglomerate expanded their portfolio
in the field of infrastructure networks and AI-based industrial automation.
Share buyback at an attractive price: During the period from Februa [ … ]
Fri, 15.03.2024
ASMALLWORLD AG
FY'23 in line, growth investments to burden profitability; chg.
Topic: Yesterday, ASW released FY'23 results, in line on top line and
slightly below estimate and guidance on EBITDA level. Moreover, the
announcement of an 'investment year' should burden FY'24e profitability
temporarily in return for member growth. In detail:
Sales came in at C [ … ]
Fri, 15.03.2024
UBM Development AG
FY ’23 prelims: EBT below est. due to higher devaluation / chg.
UBM released preliminary FY ’23 figures, which came in below our estimates
following higher than anticipated devaluations of the company’s development
as well as standing asset portfolio. Management now expects an EBT loss of
€ 39m (vs eNuW of € -23.6m v [ … ]
Thu, 14.03.2024
Flughafen Wien AG
Upbeat traffic results - demand for air travel remains strong; chg.
Topic: Yesterday, FWAG released better-than-expected Feb'24 traffic results
showing that air travel demand remains unbroken.
Last month, Group passengers rose by a strong 18% yoy to 2.38m passengers
(eNuW: 2.21m). While Vienna grew strongly by 17% yoy to 1.88m passengers
(eNu [ … ]
Thu, 14.03.2024
USU Software AG
Delisting intention a punch in the face for investors
On Tuesday evening, USU Software published an ad-hoc stating the intention
to delist the company from the stock exchange. Here is what you need to
know:
Supported by the supervisory board, the management board of USU aims to
delist the company. In order to do so, management consulted major [ … ]
Wed, 13.03.2024
MAX Automation SE
Excellent growth and profitability, soft order intake; chg.
Topic: MAX released strong FY23 results, with sales and EBITDA in line with
expectations and the company’s guidance. The sales process of the
subsidiary MA micro, which is now recognized as discontinued operations, is
still ongoing.
FY23 sales (incl. MA micro) rose by 8.3% to & [ … ]
Tue, 12.03.2024
Marley Spoon Group SE
HelloFresh’s weak outlook reflected MSG's market est.
Topic: Last Friday, Marley Spoon's (MSG) close peer HelloFresh (HFG)
released a weaker-than-expected outlook for FY24 and withdrew its FY25
(mid-term) targets on the back of particularly challenging end markets,
triggering a 40-50% sell-off of the stock. Importantly, the weak end marke [ … ]
Tue, 12.03.2024
q.beyond AG
FY prelims without surprises + bullish outlook // chg.
Implied Q4 sales increased by 9% yoy to € 50.8m (eNuW: € 47.6m, eCons: €
47.4m). Growth was predominantly driven by the continued recovery of the
SAP segment (21% of sales), where revenues increased strongly by 28% yoy to
€ 10.8m (eNuW: € 8.9m), following several ke [ … ]
Tue, 12.03.2024
Rubean AG
Conservative FY24 guidance, but ambitious mid-term vision
Topic: Yesterday, Rubean announced a rather conservative topline guidance
for FY24 as well as an ambitious mid-term vision with regards to sales,
EBIT and app user. In detail:
Sales to more than double in FY24. Rubean is expecting to grow its sales by
135% at mid-point to € 2.2-2. [ … ]